More than 100 individuals and local businesses took part in a bespoke business event aimed at supporting small businesses to grow through a range of financing options.
Tower Hamlets Council hosted a business networking and lunch event on 27 February showcasing a range of financing options, including Islamic finance options alongside more traditional options like bank loans.
There are over 18,000 businesses in the borough with the majority being small and micro businesses.
Executive Mayor of Tower Hamlets, Lutfur Rahman said:
“While the iconic skyline of Canary Wharf is a hub for the world’s largest financial and professional service organisations, Tower Hamlets is the proud home of a diverse range of local businesses, from family-run enterprises and creative ventures to start-ups, light manufacturers, and small-to-medium-sized enterprises.
“We are committed to supporting these businesses, helping them grow, thrive, and stay in the borough, where they will continue to contribute to the vibrancy of Tower Hamlets.”
Bethnal Green based entrepreneur Craig Smith, who has appeared on Dragon’s Den and secured a £100,000 investment offer from Steven Bartlett, attended the event.
The event was compered by Umesh Kumar, Head of Venture Support, at Allia Impact Ltd and featured a panel of experts including:
- Hassan Daher, founder and CEO of Qardus
- David Woods from The British Business Bank which, is the UK Governments’ economic development bank dedicated to helping small businesses survive, prosper and grow.
- Jamal Arshad, Partner at S D Garner & Co
- Joseph Babalola, Head of Cashflow Lending, Funding Bay
Joseph Babalola, Head of Cashflow Lending, Funding Bay who spoke at the event said:
“I enjoyed connecting with SMEs and learning about their businesses. Thanks, Tower Hamlets, for providing SME's with a platform for learning and engaging with brokers and other SME’s with similar industry challenges.”
Cllr Musthak Ahmed, Cabinet Member for Jobs, Enterprise, Skills and Growth added:
“It has been wonderful to see the range of businesses engaging with us and the wealth of talent out there.
“Many residents and local businesses complain they have not been able to access the economic success our borough offers, leaving them living in poverty alongside enormous wealth.
“We want to ensure all businesses have access to the right advice and finance that meets their specific needs so they can thrive and prosper.”
The council’s Business Growth Team support businesses at different stages of their entrepreneurial journey.
Find out more about the support we offer www.towerhamlets.gov.uk/openforbusiness
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Posted on Monday 3rd March 2025