Tennessee third quarter business filings at record high

New business filings in Tennessee for the third quarter of 2022 were the highest for a third quarter in the 24-year history of the data being collected, according to the new Quarterly Business and Economic Indicators report issued by Secretary of State Tre Hargett’s office. The 1.1% year-over-year growth in new business filings from the third quarter of 2021 shows that businesses continue to establish in Tennessee at a record pace. During the third quarter of 2022, 18,752 new entities filed in Tennessee. Over the past year, 76,941 new businesses filed and employment rose by 140,200 jobs. State unemployment remained low at 3.4%, below the national rate of 3.5%. Davidson and Shelby counties saw the largest number of filings in the third quarter, followed by Knox and Hamilton counties. These four most-populous counties accounted for 44% of new filings state-wide, a slight drop in their share of total filings from the third quarter of last year. Tennessee’s other 91 counties grew year-over-year by 5%. To review the complete Q3 2022 Tennessee Quarterly Business and Economic Indicators report and past reports, visit sos.tn.gov.