In a move aimed at bolstering small businesses and promoting economic growth, Tennessee lawmakers have passed new commercial law legislation on February 19, 2026. The legislation, known as the Small Business Growth Act, is set to make significant changes to the state's commercial laws to provide more opportunities for aspiring entrepreneurs and small business owners.One of the key provisions of the Small Business Growth Act is the establishment of a new grant program aimed at supporting small businesses in Tennessee. The program will provide financial assistance to small businesses for various expenses, including startup costs, equipment purchases, marketing efforts, and more. This initiative is expected to provide crucial support to small businesses, especially those that have been impacted by the economic challenges of the past few years.Additionally, the new legislation includes measures to streamline the process for starting and operating a small business in Tennessee. This includes reducing red tape and bureaucratic hurdles that often hinder small business growth. By simplifying regulatory processes and requirements, the state aims to make it easier for entrepreneurs to start and expand their businesses, ultimately fostering a more vibrant and competitive business environment.Furthermore, the Small Business Growth Act also includes provisions aimed at promoting local commerce and supporting Tennessee-based businesses. One such provision is the creation of a statewide database of small businesses, which will help consumers easily locate and support local businesses in their communities. This initiative is expected to boost the visibility and success of small businesses across the state, ultimately driving economic growth and prosperity.Overall, the passage of the Small Business Growth Act represents a significant step forward for Tennessee's commercial laws. By providing support and opportunities for small businesses, the state is positioning itself as a welcoming and nurturing environment for entrepreneurs and small business owners. With these new measures in place, Tennessee is poised to experience a surge in small business growth and a more resilient and diverse economy in the years to come.