How to Use the Sharing Economy for Your Business

How to use the sharing economy for your business

Have you heard of the sharing economy? This is what we know as a “hybrid market” which involves a model of a “peer-to-peer exchange”. This will usually be facilitated via community-based online services. “Uberization” is also a common term for this modern phenomenon.

But the sharing economy is really nothing new. Businesses have always had to work together if they wanted to succeed. With companies all offering different products and services, it makes sense that they might be able to help each other out from time to time. This might be by loaning equipment, time, or money – or something else of value.

The modern sharing economy is more vast than you realise

So – how exactly could this phenomenon benefit your current business? Let’s explore some of the different work-related assets you can “borrow” for your business, and how you might need to rely on the sharing economy over the next few years.

How to Use the Sharing Economy for Your Business
Have you thought about what your business can get for free with the sharing economy?

#1: Transport

It’s a basic fact of life that some companies have employees that must spend a lot of time travelling, especially if the services your company offers are providing nationwide or international products you’re your business or company vehicle is out of action, you may have to look at using a service online to lend you a working vehicle until your usual one is fixed.

Believe it or not, this sort of service is becoming very common, and can be applied to loads of different kinds of transport. To make sure that you’re always using a good sharing economy provider, it could be worth reading some reviews before you get started.

#2: Machinery and tools

Manufacturing, online sales, and many other types of business require heavy or specialised machinery and/or to do their work. Of course, this sort of equipment is usually very expensive, and it can be hard for a new business to afford what they need.

The good news is that the sharing economy can help. There are actually loads of options out there which are available on rent-to-buy schemes. While this is connected to finances, it won’t involve any money being lent out, and this makes it a lot more secure for everyone involved.

#3: Space

In most “modern” cities and towns, space in good places can often come at a premium, especially for small businesses which may not need all of the space they have on offer. To solve this issue, a lot of larger companies have started to sublet to smaller ones. While this will mean having to share a building with other businesses, it will make the whole thing a lot cheaper, while also giving you access to space you otherwise wouldn’t have. A lot of businesses find that it is worth investigating a sharing scheme like this for the right space, or right location.

#4: Employees

Consider the people working for you: in a lot of cases, hiring people will be one of the most expensive overheads you deal with and can involve a lengthy process. Spending lots of time in the hiring process might not work for your business when you’re looking to cover temporary projects.

Thankfully, there are now many sharing economy websites out there which are dedicated to handling outsourced work. Not only will this enable you to save some money, but it can also save huge amounts of time which would have to be put into finding new workers.

The sharing economy is real – and can really help your business

Hopefully, this post will inspire you to start investigating more deeply ways to borrow things for your business. Whether you have a big or a small enterprise, there are usually online companies which can help you out. Start looking into them and reap the rewards.

How to Use the Sharing Economy for Your Business
Article Name
How to Use the Sharing Economy for Your Business
If you have your own business, are you making the most of free resources out there? Use the sharing economy for your company and borrow what you need.
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Alyce Vayle | Content Strategist
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