Tennessee Small Businesses: Five Fast Facts

May 20, 2024

Delaney Sexton
Contributing Editor

Tennessee Small Businesses: Five Fast Facts

• Tennessee has 664,681 small businesses that employ 1.2 million people.
• Between March 2021 and March 2022, 25,753 small businesses opened.
• From 1996 to 2020, Tennessee’s small business employment grew by 13.1%.
• Banks issued $2.4 billion in loans to businesses with revenues of $1 million or less.
• New lending to businesses through loans of $1 million or less was $7 billion.

Source:
SBA Office of Advocacy 2023 Tennessee Small Business Profile