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Knoxville Business News Tennessee Mountain Scenery Background
January 07, 2024 | Tom Ballard

Two new rankings paint different pictures about Tennessee

One has the Volunteer State at the bottom of businesses with fewer than five employees, the other has the state slightly above the middle for likely new start-ups in 2024.

Two new rankings released last week paint intriguing pictures about Tennessee.

  • A new study from business QR code generator Qrfy.com found that Florida has the highest percentage of small businesses out of all states in America. The ranking came after the company analyzed the latest public data from the U.S. Census Bureau to find the percentage of registered businesses with fewer than five employees for each state throughout 2021. These results were then ranked to determine which states had the highest percentage of small businesses compared to every other registered business. The Volunteer State ranked last in the study, with only 49.19 percent of all businesses having fewer than five registered employees. Out of 144,457 total registered establishments, 71,055 of them had fewer than five employees.
  • Business ideas and information site The Small Business Blog analyzed search data from Google Keyword Planner for more than 100 terms related to the terms “side hustle” and “small business” and determined that Utah is the state with the most people looking to start a new business in 2024. The rankings were based on the average number of monthly searches for these 100 search terms calculated for each state as a proportion of 100,000 residents. That accounted for differences in population size between the states. Tennessee tied for #16 with Delaware, Kansas, and Washington. Only Florida (#11) and North Carolina and Virginia (tied for #14) did better among Atlantic Coast and Southeast states. Mississippi was ranked last.

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