The company is undertaking a feasibility study into the scheme, which has been provisionally dubbed Nectar for Business.
Business-owners who sign up for an account will earn points in the same way as the consumer scheme and will be able to redeem points earned for discounts on business spending or rewards for their employees.
Members will also be able to decide whether to add points earned from Nectar for Business to their personal Nectar accounts, a strategy that LMUK believes will boost the year-old consumer programme, which has sponsors including Sainsbury's, Barclaycard and Thresher Group.
LMUK is seeking potential sponsors and reward partners for the business programme, and will launch the scheme next year if it decides to proceed.
The company said it would give Nectar for Business a "distinctive positioning" and support it with regular communications targeted at individual business owners.
Loyalty Management International, LMUK's sister operation, already operates the Air Miles for Business programme in markets including the Netherlands and Canada.
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