Should a recession hit, Tennessee is among the best states to get by, according to a new report by Fit Small Business.
According to a recent report by FitSmallBusiness.com, Tennessee is ranked, overall, No. 10 in the country to survive a recession should one hit.
The report, Best States to Survive a Recession in 2020, determined Tennessee’s rank by weighing data like: stabilization (or surplus or emergency) funds available, economic strength and diversity, debt-to-income ratio, unemployment rate, median home value, exports per capita, export diversity, deposits per capita, average credit card debt, state income tax rate, and 2008 recession performance. Data was then weighed and compared to results from last year’s report.
Texas was ranked as the top state to survive, followed by West Virginia, Nebraska, Indiana, Alabama, North Dakota, Michigan, Iowa, Georgia, and Tennessee.
Montana was ranked the least likely to survive, followed by Hawaii, Arizona, New Mexico, New Jersey, Nevada, New York, Florida, Rhode Island, and Maryland.
Click here to learn more about the report: Best States to Survive a Recession in 2020.
