Bish-Jones was forced out of Woolworths, with a £503,000 pay-out, before its ultimate collapse in June after more than six years struggling to put the group back on the road to recovery.
He is reported to be investing some of his own money in the site, which is called , and is due to launch in a few weeks time.
It aims to help business cut the cost of recruiting executives by using the power of social media such as business networking site LinkedIn which many executives are signed up to.
The launch of Bish-Jones' online venture follows news of Woolworths being relaunched as an online retailer after being bought by Shop Direct, the internet shopping portal owned by Sir David and Sir Frederick Barclay.
Shop Direct, which also owns Littlewoods and Choice, will launch Woolworths online this summer after a deal was reached for an undisclosed sum.