Fourth Room network club

The Fourth Room is launching a networking club next week which it hopes will account for a quarter of its income.

Tuesday sees the consultancy’s launch of the Business Development Network for senior company executives, costing £10 000 a year per company.

The group hopes to recruit 100 companies. Directors at BG (formerly British Gas), Safeway, Scottish Power and Arcadia have already signed up, and a complementary membership has been given to charity Youth at Rest.

The Fourth Room chief executive officer Piers Schmidt hopes to announce a further 15 blue chip signatories very soon.

“If we sign up 100 companies we will generate £1m. It will give us a third level of activity after our consultancy and intellectual property ventures,” he says.

Schmidt adds that members will benefit from networking dinners, access to its London office and library as well as to consulting services.