"He has set up the commercial partnership, called Tony Blair Associates, after receiving permission from an official government watchdog, which scrutinises paid employment undertaken by former ministers.
The joint enterprise will provide "strategic advice on political and economic trends and governmental reform", according to the Advisory Committee on Business Appointments.
It is thought to be the first time that a former British prime minister has launched a money-spinning venture based entirely around their experience at the helm of government.
The firm is the latest scheme employed by the 55-year-old to cash in on his record as Britain's longest-serving Labour prime minister.
Since leaving office in June 2007, Mr Blair is said to have raked in up to £15 million from a variety of business deals, including a £4.5 million advance for his Downing Street memoirs."
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I'm sure he'll do very well, must be loads of people ready to sign up if only they could afford to.