EDMONTON -- A group of business leaders in Alberta are partnering to support businesses hit hard by the COVID-19 pandemic.

The Compass Collective launched on Monday.

"We're combining efforts with several complementary service providers to come up with a suite of offerings that any business – small or large, medium sized organizations – can take advantage of at no cost during this COVID crisis," co-founder Jeff Tetz told CTV Morning Live Edmonton.

Available services include marketing strategies, contingency planning, tax advice, risk assurance advice, branding and more.

The group hopes that sharing their expertise will have a big impact.

"We know that this is not going to save every business but we hope that what we're trying to offer is going to provide at least some semblance of confidence, help and structure so that we can get the economy running sooner than it would without it," Tetz said.

The partnering companies are Incite, Results, KEEN Creative, Lloyd Sadd Insurance Brokers, Kingston Ross Pasnak LLP, and Parlee McLaws LLP.

The Compass Collective would like to add more companies and services as the initiative grows.