What started as a way to make cash from renting a spare room has become an unstoppable revolution. The so-called sharing economy, pioneered by companies such as Airbnb and Lyft, is continuing to disrupt traditional transactions.
By 2025, total spending in the UK sharing economy could peak at £140 billion, according to a report by PricewaterhouseCoopers. In 2016, it amounted to £13 billion.
And it isn’t just changing the way we pay for services. The sharing economy is influencing the way we do business, too. Small businesses and sole traders can make extra cash by renting out spare rooms, office space, and equipment. On the flip side, having resources such as meeting rooms and cars easily at hand, without having to invest in a long-term purchase, could save serious money.