In a stark economic climate, the North East has seen a slight decline in expansion. The North East has 97 high growth companies, more than Wales and Northern Ireland. However, the region has just 19 companies backed by private equity funding, fewer than any other region.
Its expansion has slowed, with just five companies receiving this type of funding, the lowest number in the UK. It received £10 million of expansion investment – again, the lowest out of all UK regions. However, the North East has seen stronger metrics in entrepreneurship in the past, pointing to its potential to regain its foothold amongst start-up businesses in the future.