Tennessee 2020 Snapshot | Early-Stage Entrepreneurship Entrepreneurship is important for job creation, innovation, and the economy. This brief provides a snapshot of various indicators related to early-stage entrepreneurial activity in Tennessee. DOWNLOAD THE TENNESSEE 2020 SNAPSHOT [PDF] RATE OF NEW ENTREPRENEURS How many people are becoming entrepreneurs? Since 2012, the rate of new entrepreneurs in Tennessee has been below the national rate, with the exception of 2020 when it was higher. In Tennessee, the rate of new entrepreneurs in 2020 was 0.35%, meaning that 3.5 out of every 1,000 adults became new entrepreneurs, on average, in a given month. This compares to 0.34% nationally. VIEW TENNESSEE DATA OPPORTUNITY SHARE OF NEW ENTREPRENEURS How many new entrepreneurs created their business out of opportunity? Since 2016, the opportunity share of new entrepreneurs was higher in Tennessee compared to the national level. The opportunity share of new entrepreneurs was 88.0% in Tennessee in 2020, compared to 80.9% nationally. VIEW TENNESSEE DATA STARTUP EARLY JOB CREATION How many jobs are created by new businesses? Since 1997, the number of jobs created by startups in Tennessee has been below the national level. There were 4.5 jobs created by startupsper 1,000 people in Tennessee in 2020, compared to 5.0 jobs created by startups at the national level. VIEW TENNESSEE DATA STARTUP EARLY SURVIVAL RATE How many businesses survive their first year? In recent years, the share of startups that survive at least one year in Tennessee has been similar to the national level In 2020, 79.5% of startups in Tennessee survived at least one year, compared to 78.1% of startups at the national level. VIEW TENNESSEE DATA