The North of England’s most ambitious businesses are generating more revenue without increasing headcount at the same pace, according to the 2026 High Growth 50 report.
Median turnover across this year’s cohort increased by 115% over the past three years, up from 105% in 2025. Over the same period, median headcount growth fell from 69% to 47%, while turnover per employee rose by 52% - compared with the 2025 cohort.
The figures point to a shift in how Northern businesses are scaling, with technology, automation and AI helping companies improve productivity and expand without relying solely on workforce growth.
Produced by strategic marketing communications agency MC2 and powered by data from Growth Flag, the High Growth 50 identifies businesses headquartered across the North West, North East and Yorkshire and the Humber that combine strong recent performance with the fundamentals to sustain it.
This year’s cohort was officially launched at the London Stock Exchange on 22 September, where leaders from the featured businesses heard from Anne Boden MBE, founder and former CEO of Starling Bank.
The 2026 list includes companies from 25 locations across the North, with combined assets of £2bn and an average EBITDA margin of 24%. Growth prospects also remain strong, with 88% considered likely or very likely to grow by at least a further 20% during the next 12 months, compared with 76% last year.
The list reflects the breadth of the Northern economy. Companies featured include Shield Therapeutics in Gateshead, alongside Kendal Nutricare in Cumbria, Kromek in Durham, Pelican Engineering in Castleford, Dusk in Leeds, Darts Corner in Bolton and Applied Nutrition in Knowsley.
They sit alongside businesses including Manchester-based workplace specialist TSK Group, Leeds digital transformation consultancy Hippo Digital, Lancaster’s FGH Security and Scunthorpe infrastructure company ADComms.
Several themes emerge from the research, including the growing international reach of Northern companies. Club L London now generates more sales in the US than the UK, while Kendal Nutricare, Darts Corner, Distant Journeys and Express Engineering are among the businesses expanding into overseas markets.
The cohort also demonstrates the strength of the North’s industrial base, with manufacturing, engineering, energy, food production and infrastructure businesses featuring prominently alongside technology and retail companies.
Jonny Saatchi, managing director of MC2, said: “Growth across the North isn’t slowing down, but it is changing. The businesses in this year’s High Growth 50 are becoming more productive, using technology more intelligently and building increasingly international operations.
“What’s particularly striking is the variety of businesses driving that growth. These are companies operating from cities, towns and industrial communities across the region, creating skilled jobs and showing that ambitious, globally competitive businesses can be built from anywhere in the North.”
Bod Buckby, head of UK primary markets, North, at the London Stock Exchange, said: “The High Growth 50 shines a spotlight on some of the most ambitious and impressive businesses in the North of England.
“We are proud to champion the founders, management teams and employees who are building exceptional companies, creating skilled jobs and driving economic growth across the region. The quality of this year’s cohort is a powerful reminder of the depth of entrepreneurial talent in the North and the significant contribution these businesses make to the UK’s growth story.”
Dr Clive Black, vice chairman, Shore Capital, added: "The High Growth 50 is an inspired initiative that has evolved into a vibrant and supportive community of truly inspirational entrepreneurs - people that are key to the future prospects of the UK. It is a privilege for Shore Capital to be connected to, and involved in this ecosystem, one where it is to be hoped wonderful commercial saplings evolve into mighty industrial oaks. We congratulate all the participants from yesterday and today and look forward to those of tomorrow.”
Richard Jeffery, Co-Founder of Growth Flag, said: “This year's data points to a new phase of business growth. The businesses featured in this year's High Growth 50 demonstrate that sustained growth is increasingly being underpinned by productivity as much as workforce expansion.
“Representing a diverse range of sectors and locations across the North, they provide inspiring examples of how businesses are adapting, innovating and thriving in a changing economic landscape.”
The High Growth 50 is delivered by MC2 in partnership with the London Stock Exchange, Shore Capital, HSBC UK and Growth Flag. GC Insight is proud to support the High Growth 50 through our data tool Growth Flag, which is the official data partner to the initiative.
Download the full report here.
