The event, organised by Beds & Bars, is being held this year to help raise awareness of Team Margot Foundation, which encourages people to register as potential stem cell donors.
Last year two-year-old Margot Martini was one of 2,000 people in the UK in desperate need of a life saving bone marrow or stem cell transplant.
The charity, set up by her father PubAid director Yaser Martini, raises awareness of blood cancer and encourages people to join the stem cell register through its website teammargot.com
He said: "Team Margot encouraged over 35,000 people to join the stem cell register in the UK alone during a six week period last year. That made a significant and meaningful difference to the UK landscape: statistically over the next 10 years, more than 500 people will now have the chance of a life saving bone marrow transplant as a result."
Live Your Life Day is a new initiative set up in memory of Franca Knowles, the late wife of Beds & Bars chief executive Keith Knowles. Each year on 30 July, Franca's birthday, Beds & Bars will support a charity in recognition of the charitable work she carried out.
Restaurants and pubs taking part in Live Your Life Day this year will give out 150,000 cyan blue wristbands on 30 July with every sale, display posters raising awareness of Team Margot Foundation and hold their own special events in support of the charity.
Other companies taking part are Rainforest Cafe, Waxy O’Connors, The Worlds End KuPP, Faucet Inn, The Epicurean Collection Belushi’s bars, St Christophers Inns and Spirit Pub Company.