Each council will meet three times a year, twice with Mrs May and once with a senior cabinet minister. They will provide advice and policy recommendations on big business issues.
Each group will be co-chaired by two business leaders and have about "10 members representing core sectors of the UK economy, as well as a representative from the UK's key business groups".
Mrs May said she had asked these new councils to "advise us on the opportunities and challenges facing business as we shape the UK for the future".
The co-chairs will be at Downing Street on Wednesday to thrash out their forthcoming agendas and meetings timetables.
According to the BBC, executives from BT, BAE, Rolls-Royce, Prudential, Santander, Tesco, Timpson, ITV and GSK will attend, as well as representatives from the CBI, Institute of Directors, EEF, British Chambers of Commerce and the Federation of Small Business.
