Sir James Dyson said he was “enormously optimistic” about Brexit and claimed it would not be a disaster if the UK left negotiations without an EU trade deal.
The vacuum cleaner inventor said his company was already subject to WTO rules.
He told BBC Radio 4’s Today programme: ”We pay the WTO tariff going into Europe because we manufacture in the Far East.
"But we as a business have expanded five times over the past five years, all our exports all over the world are done from Britain so all the profit lies here in Britain.”
Sir James Dyson said he was ready to trade under WTO rules
Reconnecting with the Commonwealth is important and [so is] staying friends with Europe. We can do both
Sir James Dyson
Sir James said it was time to look to the Far East to do business as there were limited opportunities with the European Union.
He said: “Europe's only 15 per cent of the global market and the really fast-expanding markets are in the Far East.
"I'm enormously optimistic because looking outwards to the rest of the world is very, very important because that's the fast-growing bit."
He then branded the idea of EU citizens working in the UK were not being secure as “nonsense”.
Brexit: Results of how the UK voted Mon, March 20, 2017
Much of the North East of the United Kingdom voted to leave the European Union including Sunderland, Gateshead, Darlington, Durham, Hartlepool, Middlesbrough, Stockton, Redcar and Cleveland, North Tyneside and South Tyneside, and Northumberland
Getty Images 1 of 8
Get Quotes on Home Insurance
GREAT YARMOUTH: The town of Great Yarmouth on the East Coast of England voted by 72% to leave the European Union.
Theresa May is expected to start negotiations with the EU after triggering Article 50 on Wednesday
Sir James said: ”I’m certain that people who are working and contributing in Britain will be able to stay here. It's absolute nonsense to suggest that countries are going to chuck out foreign citizens.
"I just want Britain to run itself, to have its own government.”
The Brexiteer said his stance came from being a “patriot” and wanting to “reconnect” with those who “stood by us”.
He said: “I'm resident in England, we pay all our tax here. I'm a patriot, which is why I'm keen on reconnecting with the Commonwealth.
“These [are the] people who stood by us through the last war and many other wars before that and we turned our backs on them in the 1970s and I think that’s a great shame.
“Reconnecting with the Commonwealth is important and [so is] staying friends with Europe. We can do both."