April 22 ,2016 | by Claire Payne

More than 200 leading UK entrepreneurs warn against Brexit

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More than 200 entrepreneurs are backing the campaign for Britain to remain in the EU. They warn that a Brexit could cause an economic shock that would be “hugely damaging” to small businesses and could lead to a loss of jobs.

An open letter backing an in-vote contains signatures from some of the UK’s leading entrepreneurs, including founders of successful businesses such as Zoopla, Skype, Net-a-Porter, Lastminute.com, and Ebookers.

Benefit

The letter from Entrepreneurs for In was published in the Financial Times. It warns of the dangers of a Brexit, with Innocent Drinks founder and Britain Stronger in Europe Vice-Chairman Richard Reed stating that it could lead to “lost investment, missed opportunities and lost jobs.”

He added that start-up companies benefit from being in the EU, as they are “able to do business within Europe's single market of 500 million consumers, with one set of regulations across 28 countries, and the ability to recruit the brightest people here and across Europe.”

Divide

Also showing their support for an in-vote were eight former US Treasury Secretaries. They said that in their view, Britain remaining inside the EU was the best hope for securing its future, and that it would create a more prosperous Europe.

However, former governor of the Bank of England Lord (Mervyn) King voiced his concerns over supporters on both sides of a Brexit. He said that they should not be exaggerating the impact of Britain staying or leaving the EU, and that he is worried that they are treating it as a “public relations campaign.”

Claire Payne is a journalism graduate and News Writer for LSBF. She writes about SMEs, education and careers, entrepreneurship, women in business, and sustainability.

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