There is a strong tradition in Wales of former sportsmen and women going into business for themselves once their sporting careers are over.

It is something that I think is more than a coincidence. To my mind, there is something about the mentality that is needed to be a success in the world of sport that translates well into the world of business.

As anyone who has owned a successful small business knows, running any enterprise requires a degree of single-mindedness and a high level of commitment. For sportspeople who have lived for years on the basis of a rigorous training schedule these are qualities that they already possess in abundance.

At FSB Wales we are planning to celebrate the important links between business and sport at our annual Policy Chair’s Dinner, which takes place in June.

The theme for this year’s dinner is ‘Rising to the Challenge’ and we have lined-up an excellent main speaker on the night - ultra-marathon runner and broadcaster Lowri Morgan - someone who is well-versed in rising to the challenge, given her own achievements.

I am sure that by hearing a little of Lowri’s experiences and the challenges that she has confronted will encourage all of us to rise to those challenges that we face in our own daily lives, and I am really looking forward to hearing from her on the night.

Of course, the links between business and sport extend far beyond the mentality that is needed to succeed in both fields.

At a community level there is a strong involvement from local businesses in supporting grassroots sport. Head down to your local playing field on a Sunday morning and chances are that you will see teams wearing kit sponsored by a local small business.

Sport is an important part of community life across Wales, and as an integral part of local communities themselves I know that our members value the important role that grassroots sport plays - something we will also be celebrating on the night.