The Northern 500 will pick 80 to 100 mid-sized Northern firms through the mayors before a January 2027 launch. Here is who qualifies and what is on offer.

Northumberland businesses with between 50 and 500 staff, or a turnover of £10 million to £100 million, could be among the first 80 to 100 firms chosen for the Northern 500, a growth programme for mid-sized companies across the North that is due to launch formally in January 2027.

Its Partners Council met for the first time in Newcastle on Wednesday 4 November, co-chaired by the North East Mayor, Kim McGuinness, and Paul Thwaite, chief executive of NatWest Group, The Great North partnership of Northern mayors said in a release today. The council agreed the programme’s priorities and next steps.

The money to run it was confirmed by the Chancellor in last month’s Budget, which set aside up to £800,000 for the Northern 500 to set up the council and a steering group.

Who can take part

The first cohort will be “identified through Northern mayoral strategic authorities”, according to The Great North. For firms in Northumberland that means the North East Mayor’s authority, which Ms McGuinness leads.

The notes to the release give an “indicative” definition of a mid-sized business:

  • 50 to 500 employees, and/or
  • £10 million to £100 million in annual turnover.

Selection will also take account of “growth ambition, Northern presence and economic potential”. The release does not say how a business puts itself forward, and there is no application form yet.

Northern 500 at a glance: 50 to 500 employees and/or £10 million to £100 million annual turnover; 80 to 100 firms in the first cohort, picked through the Northern mayors; planned formal launch January 2027. Source: The Great North, 6 November 2026.
Who the Northern 500 is aimed at. Graphic by The Northumberland Post
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What is on offer

The Great North says the programme will concentrate on four things: access to expertise, finance and markets; practical action on barriers that firms share; a stronger voice for mid-sized businesses; and business insight to shape future support and investment.

Partners named in the release are NatWest Group and Lloyds Banking Group, which “will bring their experience of supporting mid-market businesses, access to finance and expertise in helping ambitious firms grow and expand into new markets”, and Sage, the FTSE 100 software company headquartered in the North East, which will offer help with digital transformation and technology adoption.

The programme will also work with the British Business Bank, the National Wealth Fund, Great British Energy, the Royal Academy of Engineering, Chambers of Commerce and the TUC.

NatWest holds the business co-chair for the first six months. Amanda Murphy, chief executive of Business and Commercial Banking at Lloyds, takes over for the second six months, in 2027.

The numbers behind it

The case for the programme rests on NatWest’s research. Its report The Critical Middle, published in December 2024, says mid-sized firms account for just 0.5% of UK companies, yet more than 13,000 of them employ 7.3 million people and generate around £420 billion a year. It suggests that 1% more growth among these businesses could add £24 billion to the economy outside London and the South East by 2030.

That report uses a different definition, firms turning over £25 million to £500 million, from the one proposed for the Northern 500 cohort, the release points out.

The Great North also cites the Lloyds Business Barometer from September, in which 90% of North East businesses said they expected regional economic growth over the next three years, the highest of any region. The North West was next at 88%.

What they said

Kim McGuinness, who also chairs The Great North, said: “The North is home to brilliant, ambitious businesses with the ideas, talent and determination to compete with the best in the world. But too often, businesses with the potential to grow faster face barriers that hold them back.

“Mid-sized businesses are already economic powerhouses. Just imagine what more they could achieve with the right backing, connections and opportunities.

“Through the Northern 500, we’re bringing together the collective strength of the North’s mayors with some of the biggest names in banking, business and technology to unlock that potential.

“This is about turning Northern ambition into economic growth, helping our businesses expand, compete internationally and create more good jobs for people across our communities.”

Daniel Tomlinson MP, the Minister for Growth, said: “Through the Northern 500, we’re putting government investment and the strength of our national institutions behind Northern businesses, working alongside mayors and the private sector to connect them with finance, expertise and new opportunities.

“When businesses with big ambitions are given the tools to match them, they can expand into new markets, create good jobs and drive growth that is felt in postcodes right across the North.”

Paul Thwaite of NatWest said the companies “create jobs, drive investment and play a vital role in the economies and communities around them”, adding: “Alongside our £20 billion funding commitment over the next ten years, our relationship managers are supporting customers to realise their ambitions across the North every day.”

Amanda Murphy of Lloyds pointed to the North East in particular: “From manufacturers leading the clean energy transformation in the North East to innovation scale ups across the North West, these mid-sized businesses underpin our national economy.”

Ben Aung, chief of staff at Sage, said: “Sage was founded in the North East 45 years ago and our own journey shows what is possible when businesses have the ambition, support and opportunity to scale.” He said the company wants “to help leaders make better use of digital technology, data and AI to improve productivity, make decisions with confidence and turn technology into real business growth.”

Claire Whelan, chief executive of BCW Group, a mid-sized business in Burnley, said: “When ambitious Northern businesses are able to grow, that success reaches far beyond the business itself, creating opportunities for employees, suppliers and the communities right across the North.”

What it means for you

  • If you run a Northumberland firm with 50 to 500 staff or £10 million to £100 million turnover, you fit the proposed definition. The first cohort will come through the mayoral authorities before the January 2027 launch, so watch for details from the North East Mayor’s office.
  • If your business is smaller, this programme is not aimed at you; the release sets no route for firms below 50 staff.
  • If you work for a mid-sized local employer, the stated aim is more jobs and growth in firms like yours, through finance, export help and technology support.

We will report how firms can be put forward once The Great North publishes it.