ONE of the UK's leading experts in social networking presented a talk to business leaders in Swansea yesterday.

Mark Shaw, the third most followed person in the UK on Twitter, shared the business benefits of online networking during a free event run by the Assembly at the city's Liberty Stadium.

Mr Shaw addressed an audience of around 100 businessmen and women on the profitability of using social networking to boost business.

The Twitter guru admitted he initially dismissed the network as complete nonsense but became obsessed with its potential to communicate after the popularity of Tweets from TV presenter Stephen Fry.

He said: "At that moment I became obsessed by it and Twitter is now my business.

"I speak around the country on why businesses should be on Twitter.

"Twitter is not about selling, it is about supporting, engaging and sharing and having that approach to it is how you are going to benefit."

There are now 75 million active Twitter accounts in operation across the world with 50 million Tweets being made every day.

A total of 20 per cent of Tweets made on a daily basis contain a reference to a brand and 57 of the FTSE 100 companies are now on Twitter.

Mr Shaw said: "You can use Twitter to demonstrate your expertise and your knowledge to build your ability and credibility.

"Twitter is about real people talking about real stuff in real time and right now."

Entrepreneur, author and Financial Times columnist Mike Southon also spoke at the Innovation and e-Business for Wales Roadshow.

Mr Southon hosted an advice session on entrepreneurial skills and said the most successful businesses rely on a balance of skills. He said: "The Beatles were entrepreneurs, the most successful entrepreneurs we've ever produced.

"Lennon and McCartney balanced each other out.

"Everybody can potentially be an entrepreneur but when a recession hits have cash and don't have debt.

"If you have cash in a recession you are laughing.

"A recession can be a brilliant time to start a business."

rupert.hall@swwmedia.co.uk