Industry

5 reasons why the Sharing Economy is good for Britain:

The initial findings in the report on how the Sharing Economy helps to support growth in the economy.

1. UTILISING ASSETS

utilising assets

Making better use of space and assets that are already there. Offers opportunity for better access to space, vehicles or other useful things without the need to own them, keeping prices down and lowering the environmental impact – all benefiting society as a whole.

2. UNLOCKING POTENTIAL

unlocking potential

In real terms of the impact on people’s lives, means they can make better use of their homes or assets. A stay at home mum had the choice between renting her home for the periods they are away or going back to work as they are asset rich but cash poor and a retired couple we work with can spend the winter months in the sun without having to be rich enough to own two homes. It’s all about giving more people more opportunity to make better use of what they own.

3. SPREADING THE WEALTH

Spreading the wealth

People visiting new/different areas when they stay in a home when they travel which has a positive impact on local economy and businesses outside of the traditional tourist zones. UnderTheDoormat specifically looks to offer an experience that focuses on the local flavour of where people are staying. Visitors could always visit a foreign city and eat at the same chains you eat at in your home city. But what’s the point in that? We want visitors to try out the quirky little places that would otherwise get lost when walking down Oxford Street.

4. CONSUMER CHOICE

consumer choice

Imagine how many more choices there are today! This much wider variety of options for people by fast and convenient matching of supply and demand is helping us move away from standardised, one size fits all approach to one that meets people’s needs better. This can help encourage people to travel when they might otherwise shy away from it, like a couple with small children or multigenerational families.

5. INNOVATION BREEDS INNOVATION

innovation

Five years ago if you wanted to stay in a home away from home you either had to go to a B and B or stay with a friend. No one had dreamt of paying to stay in a strangers’ home. Before Ebay the only way to get rid of unwanted items was at your local jumble sale.

Technology is opening up new vistas for how we do things, helping to overcome barriers of trust and limits set by lack of local knowledge. We don’t know where this trend will lead, but as every new approach makes a market, it creates opportunities no one could have thought of. Being prepared to operate on the cutting edge of these innovations is ultimately what helps an economy thrive.