Betfair boss Ed Wray has spoken out about the recession and UK economy at 2009's Entrepreneurs Summit in Grosvenor Square, London. The event, which saw a gathering of some of the world's leading businessmen, was overshadowed by the current recession, a point that Wray picked up on during his speech.
The Betfair boss suggested that "some businesses" at the summit "will fail" and that we should not believe we are "out of the recession just yet". Parodying Business Minister Baroness Vadera's comments that she could see "green shoots" of economic recovery back in January, Wray suggested he refused to believe in the "shoots" until he can see "the whole plant."
However, Wray also gave advice to the budding businessmen of tomorrow, saying that if you can "build your business to survive these times, once the economy turns you will fly".
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