Sir James Dyson, who founded the engineering firm Dyson, called for a “clean” break from the EU which he said would “hurt the Europeans more than the British”.
The Brexiteer forecasts talks with Brussels will fail, with Britain walking away from the union without a trade deal in place.
He told the Daily Mail: “I’ve been dealing with the EU on committees for 25 years.
“In all that time we have never been able to influence one iota and have never been able to stop anything.”
Sir James also suggested the UK would do fine without the single market and said leaving the European Union without a deal would create new global trading opportunities.
He said: “I am not anti-Europe. I am just anti Britain having no sovereignty.
“Our trade imbalance [in Britain’s favour] with Europe is £9 billion a month and rising. That could be £100 billion a year!
“They’re treating us as if we need them, when the reverse is true. They need us. Surely we want free trade — or we should walk away!”
The vacuum clearer typhoon added that Brexit is “fantastic opportunity to get our sovereignty back and re-engage with the rest of the world”.
His comments follow a deadlock between Brexit Secretary David Davis and EU Chief Negotiator Michael Barnier.
It has been claimed Prime Minister Theresa May will attempt to break the stalemate by handing the EU £27million in return for a “status quo” transitional deal.
EU negotiators are, however, still expected to demand a payment of at least some £52billion as part of the Brexit divorce bill.
The UK’s Brexit team is ready to start trade talks, but Mr Barnier has refused to discuss future trade arrangements until the divorce bill is settled.
Today, Foreign Secretary Boris Johnson said Brexit will lead to a “glorious future” for the UK.
He wrote in the Daily Telegraph: “I am here to tell you that this country will succeed in our new national enterprise, and will succeed mightily.
“We have a glorious future.”
Mr Johnson also repeated claims the government would be £350 million better off per week outside the bloc.
Mrs May is due to set out her vision for Brexit in a speech in Italy on Friday.