Online business support
VentureNavigator.co.uk is an online business support service which was created by Business Edge Consortium comprising of seven universities across the UK. The service was launched in 2007 which aims to help start- up companies and small businesses to improve their chances of success and is free of charge for end users.
The service helps the users in three ways namely; Assessments, Resources, and Answers. Every business starts with an idea but people are not sure if the idea is viable. Venture-Navigator offers a series of assessments that offer personalized feedback on key aspects of a business based on best practices along with guiding on important factors such as intellectual property and investments prospects. The resources allow users to prioritize the information available for the business community in print and online.
Once the user completes the assessment, Venture-Navigator will recommend certain resources such as articles, media clips, and other relevant documents. The users can ask specific questions to business professionals through the website which provides the users with a 360- degree outlook on the feasibility and long- term prospects of their business idea.
The website is aimed at testing the general viability of businesses, evaluates the readiness of a business for investment, assesses the strategies, determines the viability of spinning out technology into a new business, and offers insights into product strengths and weaknesses by evaluating utility, usability, and profitability.