The England and Wales Cricket Board have appointed former chairman David Morgan to review the business operations of domestic cricket.
The review will research and analyse the best models of business practice for the counties.
Twenty20 attendances fell last season and a number of counties reported significant financial losses.
Morgan, who will be assisted by ECB managing director Gordon Hollins, will present his findings later this year.
Current ECB chairman Giles Clarke said: "The ECB has taken significant steps to improve our county game in recent years including the introduction of two divisions, the advent of the performance-related fee payment system and a £15m-investment programme to support the installation of world-class floodlights and drainage systems at grounds.
"County cricket continues to attract significant support from spectators, broadcasters and sponsors alike and we want to ensure that we have a robust, long-term strategy in place for safeguarding our domestic game and continuing to produce a constant flow of talent from playground to the international arena.
"We need to examine all aspects of our business operations and consult widely with all our key stakeholders across the game as well as the wider leisure and entertainment industry.
"On behalf of the management board, I would like to express my thanks to David Morgan for accepting our invitation to head up this review.
"He has very significant experience and understanding of the issues our county game faces, is an extremely capable facilitator and we look forward to receiving his and Gordon Hollins's recommendations in due course."