EU Referendum: Richard Branson among 1,285 business leaders to sign letter backing Remain vote

On the final day of the EU Referendum campaign, 1,285 business leaders have given their full support to remain within the European Union.

Employing a combined 1.75 million people, the companies have signed an open letter sent toThe Times, stating that Britain’s economy would be severely damaged as a result of a Brexit vote.

The signatories, which include 51 FTSE-100 companies and 910 smaller firms, also highlighted that small to medium sized businesses will be particularly worse off if Britain leaves the EU.

Among the business leaders to have signed the letter include Sir Richard Branson of Virgin, Sir Charles Dunstone of Carphone Warehouse, Jacqueline Gold of Anne Summers and former New York mayor Michael Bloomberg.

“We know that Britain leaving the EU would mean having to re-establish terms of trade from scratch with our home market of 500 million consumers,” the letter said.

“That wouldn’t just hurt exporters, but the hundreds of thousands of small and medium firms who do business with them. Even those that want Britain to leave say that, in the short term, Brexit would lead to economic uncertainty and would put jobs at risk.

“Smaller businesses and the people they employ are particularly vulnerable to any economic shock that could follow a vote to leave.”

The letter added: “Britain leaving the EU would mean uncertainty for our firms, less trade with Europe and fewer jobs. Britain remaining in the EU would mean the opposite – more certainty, more trade and more jobs.

“EU membership is good for business and good for British jobs. That’s why, on June 23rd, we back Britain remaining in the EU.”