Newcastle, England -- Pembridge Partners today announced it was launching a new venture that will offer performance diagnostic tools and processes to Small and Medium sized Enterprises (SMEs). The North East of England's Regional Development Agency, ONE NorthEast, is a co-investor through its Design and Creative Fund.
The name of the new venture has been released - Business Assessment Ltd - but the trading name through which it will offer its new service is still under wraps. The new service will operate from Newcastle and is being developed by local suppliers.
The service will aggregate and publish company performance data to SME’s and their intermediaries, helping management teams to set strategy, control costs and measure progress. Beyond the service offering to SMEs, a separate portal onto the aggregated data is offered to researchers and institutional policy makers in the public and private sectors to allow them, for the first time, to understand what is really going on inside the small business economy.
Further details of the service offering will be announced at launch, scheduled for summer. Meanwhile, a delivery team is being recruited by newly-appointed Managing Director Mark Fenwick.
Mark Fenwick said: "I set up my first business in 1986. The advice I got was to draw up a business plan and never to take my eye off the numbers. However, I soon found out that hard information about the marketplace simply was not available to my size of company. Our mission is to fix that information gap."
Pembridge Partner David Prais has built several successful online businesses including Chumbo.com and Bellacor. He chairs the new venture.
David Prais said: "The internet now makes it possible to empower a new generation of entrepreneurs to make good decisions based on affordable, up-to-date information, available 24/7 when they need it. We are launching this in the depths of the economic winter because it will give business owners the tools they need both to survive and later to thrive when things pick up."
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