An organisation providing office space for new companies has been taken over and is to have its advice service revived.

Thames Business Advice Centres (Tbac) currently offer start-up businesses office space on a flexible basis, saving them from getting stuck with long leases and commitments and premises which prove too big or small.

It has now been taken over by Jennings, which runs three business parks in the county.

Until to a few years ago, Tbac also offered business advice, but this was hived off to the Oxfordshire Business Enterprises, although this has now lost its Government funding for the service.

However, Jennings now plans to restart Tbac's advice service, financed by the revenue it receives from office lets, to fill the gap.

Managing director Mike Jennings said: "Tbac has always been reliant on grant funding but we are looking to become the landlords and so lose the dependency on Government support.

"We've taken responsibility to run a non-profit making organisation which we hope will be self-funding."

Mr Jennings and fellow director Paul Mabbutt were both previously advisers to Tbac.

Tbac rents office space at Hinksey Hill, Osney Mead in Oxford, Abingdon and Witney.

Mr Jennings said: "There are dozens of business people who have taken early retirement who could give back the benefit of their experience to the community."

Jennings is also looking to acquire more centres to free up more space for fledgling businesses and is seeking sponsorship from banks and other commercial organisations which would also provide referrals.

Oxfordshire Business Enterprises has been given a £40,000 grant from all the Oxfordshire local authorities, although its long-term future is uncertain.