Notes On New Businesses In Tennessee

If you’re thinking of going into business in the New Year, remember, entrepreneurs face numerous challenges in the early years, from solidifying business plans to navigating the complexities of hiring employees and acquiring licenses and insurance.

These hurdles often determine the fate of a startup, making the journey from an idea to a successful enterprise both difficult and uncertain.

A recent analysis explores the states where new businesses are most likely to survive their earliest years based on the latest data from the U.S. Bureau of Labor Statistics.

In Tennessee you stand a better than average chance of survival…

Odds of surviving the 1st year: 78.3%

Odds of surviving the 2nd year: 82.6%

Odds of surviving the 3rd year: 85.9%

For reference, here are the stats for the entire U.S….

Odds of surviving the 1st year: 78.5%

Odds of surviving the 2nd year: 85.4%

Odds of surviving the 3rd year: 88.3%