Theo Paphitis tells us about his new investment competition, and his tips on how to make a successful pitch.
TV Dragon and serial entrepreneur, Theo Paphitis will open doors to his own mini Dragon’s Den this summer, with the relaunch of his investment competition for UK small businesses.
Now in its second year, #SBS Invest is a free competition that gives members of Paphitis’ small business network, #SBS Small Business Sunday the chance to pitch their business.
According to the network’s website, the founders with the most persuasive pitches could win between £50,000 and £250,000 from an investor, in exchange for a percentage of equity.
What is #SBS Invest?
#SBS is Theo Paphitis’ online community of small businesses. Each Sunday, Paphitis asks SMEs to tag him in a post on X and argue why their business deserves to be highlighted.
Paphitis then handpicks six winning SMEs to win the #SBS Small Business Sunday award. Each winner is given a profile on his website and joins the #SBS network. Currently, the community is home to around 4,000 small business owners.
#SBS Invest is a specialist investment competition that is exclusively run for the #SBS members. As well as being a SBS winner, the eligibility criteria states you must also:
- Be at least 18 years old
- Own a business based in the UK
- Have been trading for a minimum of two years
How do I apply?
Entries will open for #SBS Invest next Tuesday 30 July. SMEs will then have one month to submit a filled-in application form, with entries closing on Monday 2 September.
The application process is being run across multiple stages:
- Stage 1: entrants submit an entry form and a filmed, five-minute long business pitch
- Stage 2: successful applicants submit a business plan and an investment plan
- Stage 3: successful applicants attend a live pitch with the panel in London
Interested SMEs should email sbs@tpretailgroup.com to request an up-to-date entry form. Joining Paphitis behind the boardroom table will be fellow #SBS investor and F1 Superstar, Mark Blundell as well as the CEO of Tiny Box Company, Rachel Watkyn.
Paphitis: “I want to turbocharge small business growth”
Paphitis is one of the most famous faces from the popular BBC One series Dragons’ Den. During his time in the renowned black chairs, he invested £1.5m in over 20 businesses.
On relaunching #SBS Invest and supporting small businesses, Theo Paphitis said: “Small businesses are the lifeblood of our economy, and that’s why I’m so proud to bring back this free opportunity that gives them a chance to turbocharge their growth.
“Last year’s #SBS Invest was a resounding success, and it allowed me to further understand some cracking businesses in the network. I’m looking forward to seeing this year’s entries.”
Ahead of the #SBS Invest launch, we asked Paphitis to share his top tips for pitching success. Here’s what he exclusively told Startups.
1. Do your homework: “I learned quickly during my time on the Den that I’d much rather invest in a great person with an average business than in an average person with a great idea. The people who impressed me the most were those who had prepared beforehand, knew who they wanted investment from, and could answer any questions we threw at them”, he advises.
2. Have confidence: “Being able to confidently sell yourself and your business is a fundamental component of a successful pitch,” Paphitis adds. “If it comes across that you’re not confident in yourself, an investor won’t be confident in your business.”
3. Be clear: “Don’t overcomplicate things,” Paphitis tells Startups. “Keeping it simple is the key to getting your ideas across in a very short amount of time.” We couldn’t have put it better ourselves.
#SBS Invest has been going since 2023. Not eligible to apply this year? Why not tweet Theo Paphitis this Sunday, to be in with a shot at joining #SBS and the £250,000 prize.
