That being said is NOT close to therefore, 'that being said' is closer to 'however' or 'but' which is pretty much the opposite of therefore. Therefore, is used after making a statement and followed by a declaration backing up the statement in a run on sentence. For example. "I am from England, therefore I speak English" That being said is used to modify a statement, in the same way as but or however is used "I love London, that being said I could not live there!" Cheers, Chris

That being said = nevertheless. To use the example of the other poster: "I like red. That being said, when I went shopping, I chose the black shoes over the red shoes."

After explaining something or bringing up new information, you can use this phase. It's meaning is close to "therefore." I like red. That being said, when I went shopping, I chose the red shoes over the black shoes.