Home Business News Theo Paphitis encourages optimism from the UK’s small businesses

Theo Paphitis encourages optimism from the UK’s small businesses

by LLB Reporter
13th Feb 19 12:04 pm

Theo Paphitis’s small business network, #SBS Small Business Sunday, welcomed over 800 small businesses to the annual event Tuesaday evening, to inspire growth and networking amongst small businesses.  Businesses travelled from as far as France, Scotland and Cornwall to focus on growing their businesses and hearing from a variety of experts including Google and celebrated Scottish entrepreneur and philanthropist, Sir Tom Hunter, as well as a fantastic range of sponsors DHL, Square, iLaw, Western Union, Ryman, Robert Dyas, HP, Webroot and Autumn Fair.

Theo launched the #SBS, small business network, on Twitter in 2010 and eight years later has more than 2,500 businesses in the network. The network of like-minded businesses regularly network online and get together at the annual event every February in Birmingham.

#SBS creator and renowned business entrepreneur, Theo Paphitis said, “It takes a lot for a small business, around 60% of which are one person businesses, to take a day out of the office. But, the energy, advice and networking the businesses are exposed to throughout the day are crucial in helping them be inspired to grow and reaching the next level.  For the #SBS winning attendees to hear from the likes of Google and Sir Tom Hunter, is business advice worth its weight in gold to them.

I was delighted to see so much optimism from our annual #SBS business survey. We’re in tricky, uncertain waters and for 82% to feel positive about their businesses in 2019, speaks volumes about the resilience of UK small businesses.”

Small business minister, Kelly Tolhurst MP, also provided words of encouragement to the attending #SBS winners on the importance of small business to the UK.

Tolhurst said, “As members of our community of 5.7million UK small businesses are the backbone of our economy and helping to make our business environment amongst the best in the world.

“Through our modern Industrial Strategy, we are committed to doing even more to ensure the UK remains the best place in the world to start and grow a business while ensuring we have the right environment for businesses like yours to thrive, with new investment in research and creating a workforce with the right skills for the future.”

The annual #SBS survey revealed that 82% of #SBS winners feel positive about doing business in 2019, with nearly 60% of businesses being sole traders.  23% of businesses had hired in the last 12 months. The attending businesses’ social media of choice for business growth was Facebook with 50%. 48% also thought that Brexit and its stalemate was affecting their business, with 47% saying that cashflow kept them up at night.

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