By Michelle Price
UCBJ Managing Editor
UPPER CUMBERLAND – According to a recent study by SmartAsset, a financial technology company, four of the state’s top 10 counties for small business are located in the Upper Cumberland region. Fentress, Putnam, Pickett and Overton counties were among the best in the state, alongside metropolitan counties, such as Williamson, Davidson, Shelby and Knox.
The study weighs three factors in selecting the top counties: the percentage of people in a county with small business income, the proportion of that income to countywide small business income and taxes paid by small business owners.
Fentress was the fourth best county in the state for small businesses, following Williamson, Davidson and Fayette counties respectively. Putnam County was fifth best, with Pickett County seventh and Overton coming in 10th.
In three counties, over 25% of the tax returns had small business income – Fentress, Pickett and Clay. Overton closely followed with 24.4% reporting small business income.
Putnam County was third in the state for small business income as a percentage of total income reporting 12.84% of all income as a result of small business activity. Fentress County, at 10.11%, was the only other Upper Cumberland county with over 10% of its total income coming from small businesses.