MEMPHIS, Tenn. — Stimulus checks and unemployment payments aren’t the only reason businesses are having trouble finding new workers. It turns out that many Tennesseans are starting their own businesses.
The report from the Tennessee Secretary of State’s Office said Shelby County is leading the way as the state sees record business growth. The state received nearly 20,000 new business filings in the first quarter, which is up 55 percent from the same period last year. It’s also the largest largest year-over-year increase since the state started tracking the data nearly 30 years ago.
More than 3,700 of those new business filings were made in Shelby County, which is more than any other part of the state.
Economists said the numbers point to a rapid economic rebound from the pandemic.