Boyd Center for Business and Economic Research
Tennessee Business Leaders Survey
The Boyd Center for Business and Economic Research created the Business Leaders Survey in August 2020. Responses are collected biannually from business leaders across the state to provide a unique perspective on Tennessee and the nation’s economy.
Responses from the most recent Tennessee Business Leaders Survey were provided in January 2025. Compared to last summer, fewer leaders believe there is a chance that the U.S. will fall into a recession in the next year. About 58 percent believe that there is less than a 25 percent chance, 43 percent believe there is a 26 percent to 75 percent chance, and none think there is a 76 percent or higher chance of recession. Respondents were asked to prioritize potential changes with the incoming presidential administration, giving the highest priority to items integral to the success of their business in Tennessee. Business leaders overwhelmingly said tax cut renewals and controlling inflation would affect their companies more than immigration control or expanded tariffs. Outlooks for the U.S. and state economies were rosier than reported in past surveys. We summarize key themes that emerge in our Winter 2025 report.