In conversation with Theo Paphitis, TV Dragon, Entrepreneur and Chairman of the Theo Paphitis Retail Group

Theo Paphitis

1. What first sparked your passion for small businesses, and why do you think they’re so vital to the UK economy?

I started out as that small business owner with the same worries that keep many up at night now, so I understand them and know those highs and lows! I’ve always believed that small businesses are the beating heart of the UK and they contribute so much to the economy, we need to nurture them. Every big name out there today started with a dream and a bit of graft. Small businesses drive innovation, create jobs and keep our communities thriving.

2. You’ve built and backed many businesses over the years – what still excites you about working with entrepreneurs at the start of their journey?

It’s the energy. When someone’s just starting out, they’re brimming with ideas and determination. That spark is contagious and it reminds me of why I fell in love with business in the first place. When people are passionate about what they do, it’s infectious.

3. What was the inspiration behind launching Small Business Sunday (#SBS) back in 2010?

I wanted to give small businesses a spotlight they weren’t getting, and I was new to Twitter back then, had a 50k following in 2010 and I knew what a valuable marketing tool it would have been to me if someone had shared my business to their followers. There was so much talent out there going unnoticed, and #SBS was my way of creating a space to shout about how brilliant small businesses are and give them a platform. The rest is history and October 2025 marked its 15th anniversary. The fact it’s grown so much is something I’m really proud of.

4. Looking back, did you imagine #SBS would grow into the community it is today, with thousands of members?

Honestly, no. I thought it’d be a simple way to help a few businesses gain a bit of exposure, through Twitter. I only did it as a one off originally and then people shared their businesses the following Sunday too. I realised that it meant something to them and it helped them, so why

not. Now it’s a buzzing community of 4,500 entrepreneurs, and watching members support one another is just incredible. The small businesses make #SBS what it is.

5. What do you think makes #SBS stand out from other small business initiatives?

It’s the sense of community – #SBS isn’t about ticking boxes, it’s about real people, with real businesses, celebrating and lifting each other up. That spirit is what makes it special and it is all free. Small business owners have enough to deal with without having to pay for support. We have our brilliant partners to thank for that such as Google, NatWest, Ryman, Robert Dyas, iLaw, SumUp, DHL Express UK, Spring and Autumn Fair, FreeAgent, GS1 UK, Hakim Group and Lifestyle.

6. How do you see #SBS evolving over the next five to ten years?

I see it becoming even louder and continuing to fly the flag for small businesses everywhere. The tools might change, but the mission won’t: helping entrepreneurs get seen, feel confident and connect with opportunities to grow. Our strapline is ‘Helping small businesses to think big’ – something that is so important for a small business owner. We will create more opportunities through our excellent partnerships and the network will continue to grow.

7. What qualities do you think are most important for small business owners to succeed right now?

Resilience, of course, but also positivity and adaptability. The world changes fast , if you’re open to learning and willing to evolve, you’ll always find your way through.

8. How has the small business landscape changed since you launched #SBS, and what challenges do you see ahead?

When #SBS started, social media was just taking off, now it’s a lifeline for small businesses. But with rising costs and big competition, it’s not easy. The opportunity is there though; never before could a small business reach so many people so quickly.

9. What drives you personally to keep championing small businesses year after year?

It’s simple – I love it ! Seeing someone turn their dream into something real gives me huge joy. When you back small businesses, you’re not just helping an idea, you’re helping people follow their passion and build their futures. Every year we hold the big #SBS Event in Birmingham and I get so much energy from this day and you see the connections made, ideas and motivation from our speakers and I know how important their win is to them.

10. If you could give one piece of advice to a budding entrepreneur just starting out, what would it be?

Just start. You’ll never have every answer from day one, and that’s okay. Take the leap, stay curious, pivot as you go.

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