Richard Branson calls for young people to right the wrongs of Brexit

- Leadership - Jun 30, 2016

Virgin boss Sir Richard Branson has given his opinion on the UK’s decision to leave the European Union.

Speaking at an entrepreneur competition held by Virgin Media Business, he said the following: “I think that unless somebody makes a very bold move quickly, maybe say that once we’ve negotiated with Europe, there will be another referendum.

“If we carry on down the current path we are taking then we are taking the country into another recession very rapidly, the bank shares have been wiped out over the last few days. There will not be the money to be invested in new businesses, there will not be money to invest in bigger businesses or money to be invested in infrastructure projects.”

“The business world wants stability. We work enormously hard to build companies, create jobs and make a difference in this world. In 48 hours, we’ve had to cancel massive investment programs, put a job freeze on. One of our companies we’ve actually seen a share price come down 50 percent, with that kind of blow to a company, a lot of work is needed to get back to a level of stability. All the banks got completely and utterly wiped. I think they’ve just taken away a market of 500 million people and it’s just sad that people didn’t realise, it’s going to be devastating to business and infrastructure.”

“In the very early days of starting something, without financial backing and just an idea, you’re just fighting to survive and you need to have complete belief in your idea. My initial idea was a magazine campaigning against the Vietnamese war and it resonated with the young people, and we ended up using that to build a force in the UK. I hope the young people will gather together today to build a force to right the wrongs of what has happened over the last few days [Brexit].”

He also gave the following advice to start-ups following the EU divorce: “When I started off in business the interest rates were at 18 percent. Now, those rates are one or two percent. The difficulty is going to be for people to find money or for people to lend them money, but if they’ve got a great idea they should be able to find people out their willing to back them – it’s just going to be a smaller pool of people following the EU result.”

Read the July EURO 2016 issue of Business Review Europe magazine. 

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Comments(1)

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kushal kumar    Jul 06, 2016
. The news report that Britain has voted in favor of leaving EU in a referendum held on 23 June 2016 has proved this writer right. This was the text of prediction made on several occasions :- “ This Vedic astrology writer had analysed economic prospects of global powers in monumental article - " Stressful times ahead for world economy in 2015 and 2016" - published TWO YEARS PAST from now on 2 June 2014, in online magazine (blog) astrologyweekly.com. Countries were identified for substantial concern and expressed by first letter with which name of a country or Capital or association of countries begins. The aspects of life becoming the cause to bring about specific economic scenario were also identified and mentioned in the said article. Having said that briefly , it was predicted that , among others , “U”( denoting UK) or “B” (denoting Britain) and “ EU” ( denoting European Union) would face a major concern in economy during first half of 2016, particularly around April 2016. It may be observed that economy of EU is a major cause of concern by May-June 2016 on account of several grounds , record floods being one these days. These predictions of this writer have been proved accurate by actual happenings on the ground. Now, the month of June is causing more concern due to record floods in many major countries like France and Germany. There is another major event slated for 23 June, 2016 - referendum on whether Britain would continue to be in EU or not. Chances of Britain continuing with EU are very bleak, going by stars. Link to reach the article : astrologyweekly.com/blog/stressful-times-ahead-for-world-economy-in-2015-and-016/”