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Best Places to Start a Business in Tennessee

by | Oct 11, 2019 | Business

Whether you plan on relocating your business or start one, Tennessee is the place to go. It has many benefits that help businessmen and entrepreneurs start their business and actually succeed. Some of the most important benefits include no income tax, many already developed industries, and an educated workforce. All of this, combined with numerous other factors, make Tennessee the number one state in the southeast to start your business. And, what is more, the government is really trying to help those small start-up businesses succeed. So, if you like what you hear, and you have a business plan, pack your bags. The only problem now is to decide what the best place is to start a business in Tennessee. We got you covered, keep on reading for some guidelines.

Why is Tennessee the Best Place to Start a Business

First things first, let us tackle the issue of why Tennessee is one of the best states in the USA to start a business before you call to relocate you there. Well, the first thing anybody will tell you is that this is the state with zero income tax. Moreover, it is a state with the lowest regulatory burdens. Then, when it comes to industries, Tennesse is proud of its healthcare services and car manufacturing. However, its tourism is also strong, especially in bigger cities like Chattanooga, Nashville, and Memphis. These cities, together with other bigger ones have a long history, great entertainment, and an amazing art and music scene. So, yes, in Tennessee, businesses can grow in numerous industries. So, now let us see which areas of Tennessee are best for starting your business.

  1. Alcoa

Alcoa was previously a small community created for workers of the Aluminum Company. But, over the years, this small community became a town, south of Knoxville, that has approximately 10 businesses per 100 residents. These are usually related to the airport, as one of the biggest employers in Alcoa is the McGhee Tyson Airport. Then, there are also many places for businesses related to education, technology, and research. And, if you are into hotels, retails, conference centers, and similar – Alcoa is the place for starting a business of that kind too, and do not worry about starting your first office.

  1. Brentwood

Brentwood is not a city, but a very wealthy and well-established suburb of Nashville. This suburb boasts about being a place with the lowest unemployment rate in all of Tennessee. And, what is more, it has the highest annual median income. And even though this suburb is not very big, many big companies and investors call Brentwood home. So, yes, Brentwood is a good place to start your first business, and later on, if you want to relocate your Nashville based business, you can easily do it, as there are many great relocation companies here too. The biggest industries in Brentwood are related to health services and helping elders.

  1. Pigeon Forge

Pigeon Forge is a mountain resort. It is located in Sevier County, just a few miles from the Great Smoky Mountains National Park. This mountain resort is famous for tourism and hospitality. And, when it comes to the most common businesses, that is, the ones that thrive the most, you will find plenty of resorts, malls, hotels, outlet stores and similar. Many visitors come here to buy sporting equipment and to check out the Elvis Presly museum. So, Pigeon Force is a city great for starting a business, it has a low unemployment rate, high incomes and a government that really supports small and new startups.

  1. Lebanon

This city is located in the middle of Tennessee, just 30 miles east of Nashville. And, it actually serves as the county seat of Wilson County. The biggest employers in Lebanon are restaurant suppliers. You will also see many small restaurants and catering companies too. So, if interested in selecting an office catering company, this is the place to be. Wilson County Fair and Cumberland University are also located here.

  1. Greenville

Greenville is not your typical Tennessee town as it is very rural and country-like. But, this is one of the best places to move to and start a business. There are approximately 15 businesses per 100 residents. And the workers here enjoy many job opportunities, high salaries, but very low housing prices. The major industries include anything related to retail and shopping. Actually, one of the biggest malls in all of Tennessee, the Greeneville Commons, is located just here, and it attracts many locals and tourists.

  1. Franklin

Franklin is the largest city on our list and it is located in Williamson County. Also, Nashville is rather close and it really helps promote business throughout this area. However, living here does not come as cheap as in the other cities and towns mentioned so far. If you move here in order to start your business, you will probably be surprised by the prices of housing. But, there is nothing to worry about, as the salaries are also one of the highest in the state. Major companies here are those related to health care and car manufacturing.

  1. Crossville

This city is known as ‘the golf capital of Tennessee’. Let us just say that locals love their golf and that foreigners do not mind moving and settling in Crossville to enjoy its 10 championship golf courses. So, it goes without saying that this city is a popular business and retirement destination. There are many major companies, and the government really tries to help those small companies too. Basically, any business related to shopping, retail, health services, and tourism is destined for success.