Tuesday, October 18, 2016

Ways Small Businesses Can Benefit from The Sharing Economy

From Go Digital:

Consumer interest in the “sharing economy,” a popular term that’s been loosely defined as an economic ecosystem built around the sharing (renting) of assets, is exploding.

Along with consumers, an increasing number of rising companies and small business owners are finding that they, too, can benefit from collaborative consumption. From big-name companies, such as Airbnb and Uber, to smaller marketplaces like DogVacay, Getaround, and LiquidSpace, businesses increasing in popularity and local merchants are exploring new ways to get in on the action.

According to a 2014 report by Nielsen, the consumer peer-to-peer rental market is now worth an estimated $26 billion. Sixty-eight percent of global consumers say they’re willing to share their own assets, and 66 percent say they’re willing to seek shares from others. Businesses are generating extra revenue by renting their own unused assets to consumers, and many are working with other merchants. By taking advantage of peer-to-peer marketplaces on their own terms, small business owners are finding that they can capitalize on the collaborative consumption trend to gain access to the products and services they need to grow their companies.

From Entrepreneur:

Nielsen’s report said that the peer-to-peer rental market had now grown to $26 billion. Sharing is clearly the new buying, and small businesses have a chance to both make their lives easier and generate another source of income.

The sharing economy has changed the way people do business. How will you use the sharing economy to your benefit today?

See also for article from Forbes:

Collaboration is very important for companies in sharing economy. As any small business owner knows, great ideas are worthless without proper execution. Collaborating isn’t an easy process, but it doesn’t have to be difficult either. It requires a collaborative mindset. If achieved, the possibilities are endless. By coming together and uniting local businesses, we become a more visible united brand in our community.

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