Going by various names, including collaboration economy, shared consumption, Peer-to-Peer economy and the likes, the concept of shared economy involves a framework of highly flexible economic system, one which has rapidly gained wide acceptance in the world today. And an example of such tools that make this possible is Sinnaps Project Management software.
With every passing day, more and more people are constantly moving away from the traditional economy into a system that allows for greater sharing of resources, information, ideas as well as services, on that invariably permits greater collaboration.
Today, it has even become less important what it is called, and has become more about what it entails, its advantages, as well as what it can bring to the table.
Índice
At one time in the world economy, owning a lot of things was a clear indication of status, as those who had more money could simply reach out and buy more things. People would constantly view such things as owning a fleet of cars or a mansion as the definition of “class”.
However, with the rise of sharing economy trends today, a greater number of people now see it as necessary to own only those things such as they really need, while renting other things that they may only need to use from time to time.
Some links…
Collaborative Economy
Here, consumers would rely on each other for sharing economy services, rather than large companies.
In this case, a person may not see it as necessary to own a car, when they could easily rent one at a meager fee and save themselves all the troubles of having to pay tax, insurance as well as petrol or maintenance.
For a greater understanding, let’s try to properly define the sharing economy concept.
Sharing economy technology allows for sharing of assets as well as services between private individuals, groups for a certain predetermined fee, often facilitated by means of the internet.
This emerging economic system allows peers, individuals, small businesses to share office spaces, services as well as resources and skills at a cost which is a lot lower than the traditional retail settings.
The increased ease as brought about by the idea of sharing economy means that literally anyone having an internet connection may partake in it. Some sharing economy examples include the following:
- Crowdfunding
Crowdfunding is a sharing economy example service that connects people who need money to those who are willing to provide. Sharing economy marketing platforms like Indiego and Kickstarter bring entrepreneurs, artists such as have business ideas in contact with a pool of potential funders, allowing them to set a funding target amount as well as a date.
This type of lending does not guarantee lenders of getting back their money, however, most often times, recipients offer such rewards as merchandising or equity in the company to serve as encouragement for this kind of activity.
- Peer-to-Peer Lending
The Peer-to-Peer lending platform allows entrepreneur to lend and borrow money without the hassle of having to go through a traditional bank. Such platforms as SoFi, Lending club have interest rates setup between parties involved.
- Coworking
A lot of sharing economy marketing platforms allow you share the same office, cost of renting, office utilities as well as other office supplies with a host of other professionals. This type of sharing economy idea is mostly common among freelancers, small businesses, startups and sole proprietorships.
It allows its occupants to pay a certain amount of money, either weekly or monthly, depending on the arrangement being made as well as the amount of time spent in the office.
- Niche Service
This deliver services targeted at a certain section of the population. It allows people to earn passive income while meeting the needs of people such as require certain personalized services. An example is Splinster, which allow people to share or rent out such things as a bike.
- Knowledge and Talent Sharing
Here, people with certain knowledge base have the opportunity to offer their skills in return for payment.
- Reselling and Trading
Such sites as Amazon and Craigslist are examples of the selling and reselling sharing economy examples. They allow for buying and selling of goods without a face-to-face interaction.
- Renting
This allows for apartment/ house renting by connecting owners to such people as are searching to make use of such items at the time. These may include travelers who are in need of a place to pass the night.
A host of other such examples of sharing economy examples exist, including Ridesharing/ Carsharing, Crowdsourcing, which allows a group of people to share information with the greater public regarding such things as optimal routes to beat traffic congestions.
Benefits
- Greater reach for a wider range of users
- Greater flexibility
- Less stringent regulations allowing for easy access to grants
- Cut expenses
- Eliminate unnecessary investments
- Build loyalty based on rust
- Increased revenue
Problems
- May create risk for lenders
- May require forfeiture of some amount of privacy
- May become susceptible to market fluctuations
Traditional Economy Advantages and Disadvantages
Advantages
- Allows for face-to-face dealings, may increase guarantee
- Eliminates the need for sharing of resources
- Increased privacy
Disadvantage
- Presents a rigid process for lending and does not encourage would-be borrowers
- This is costlier as compared to the shared economy
Sharing Economy Companies List
A list of sharing economy apps and companies exist. Sinnaps project management tool for example has the advantage of allowing for seamless flow of information, promotes collaboration between different groups of individuals or teams, regardless of time or distance, making it possible for people to work and share business ideas much from anywhere, facilitated by internet connection.
Sinnaps promotes collaboration in your Sharing Economy Projects. Take a look!
Other sources include; Uber, Upwork, Shopify, People per Hour, Amazon, etc.
A lot of views are currently being held today, regarding the increase in the sharing economy market size and how this growth may signify the next evolutionary step in modern commerce. With this said, it necessary to add that traditional businesses the world over, are beginning to make the necessary adjustments to incorporate this new trend into the running of their day-to-day activities to accommodate for shift in paradigm that is rapidly sweeping over the place.
