Tennessee Business Leaders Say Pandemic-Induced Recession Fading
Thursday, September 9, 2021
The economy is improving quickly across Tennessee, according to the most recent survey conducted by the Boyd Center for Business and Economic Research at the University of Tennessee, Knoxville.
The Tennessee Business Leaders Survey shows that 39 percent of respondents listed adverse economic conditions as a top challenge for their businesses, down from 80 percent in August 2020. About half of respondents to the summer 2021 survey listed human resources and government regulation as more pressing issues, and about a fourth listed rising supplier costs as a problem.
Despite some challenges, about 75 percent of the business leaders surveyed expect the Tennessee economy to improve faster than the US economy over the next year, due primarily to good business investments.
Almost 70 percent of respondents said Tennessee is doing a good or excellent job of creating a solid business environment.