John Nevel and Dan McCarthy see an opportunity in Nashville's entrepreneur community.

The Compass East co-founders believe it's an area underserved in day-to-day accounting and financial services. Their Nashville-based CPA firm is looking to fill that void.

"We're focusing on owners and entrepreneurs that want to grow their company, and want to have the information to do so on a month-to-month, day-to-day, basis," McCarthy said. "We want owners who don't want to wait until tax time to find out exactly how their business [is performing]."

Both Nevel and McCarthy came from larger accounting firms. Though they've been working to fill this niche for entrepreneurs in Nashville since April 2012 (operating as The Boro Group), they're now officially launching the Compass East brand.

"We noticed the technology was getting to the point where we could do this remotely for entrepreneurs throughout the U.S.," McCarthy said. "We think we could fit in being the outsource department for small businesses and entrepreneurs for their day-to-day accounting needs."

Right now, McCarthy said the firm is focusing on serving the Nashville market before widening its net to other parts of the country. Eventually, their "goal is to grow in other entrepreneur cities throughout the country," he said.

McCarthy said Compass has Chattanooga on its radar, as well as other cities up the east coast such as Washington D.C., Baltimore and Philadelphia. Along with entrepreneurs, the firm also specializes in accounting solutions for franchise owners.

Here are some excerpts from today's news release:

Compass EAST couples the knowledge of a professional CPA firm with cloud-based technology to provide a streamlined financial operation that is necessary for entrepreneurs to effectively run their business and engage with their stakeholders.

Scott Harrison covers government and economic development, banking and law.