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• In 2018, there were over 631 thousand businesses in Tennessee, of which more than 125 thousand were minority-owned firms.

• Minority-owned firms in Tennessee employed over 96 thousand people in 2018.

• Minority-owned firms represented 20.4% of all firms located in the state.

• The number of minorityowned firms in Tennessee increased 5.4% between 2017 and 2018.