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“Sharing economy” is an economic model based on sharing items, rather than everyone owning everything on their own. It works by renting, lending, exchanging and/or sharing things privately. For example, a group of people sharing one car, in what is known as a carpool.

Examples of a Sharing Economy

During the 21st century there has been an expansion of services based on the sharing economy model. The most common examples are different taxi services with private cars, such as Uber.  More so, houserentals between people, like Airbnb. Dogsitting, officespaces and deliveryservices are other common examples.

The huge expansion of these kind of services is related to IT-development and urbanisation. More so, the growing habit of using social media and the increasingly globalised world.

Environmental benefits

Since a sharing economy is built on the idea of sharing it is great for the environment. When things like cars and housing are shared more it has a positive impact. This since things tend to be used more rather than less. It leads to less new productions (that generally has big emissions) as well as a need for less space (to store items). In the long run, the use of a shared economy could even contribute to smaller housing needs per person.

A picture of two hands sharing a bowl.

Economical benefits

Other important benefits is that a sharing economy lowers the costs for people to access the things that they need. It could also mean an extra income for people who rent out their things. The latter can also have a positive influence on the market, as there is greater competition. For example, tradition actors in the car rental sector have improved their services to keep up with the development.

Other examples of things that are good for sharing are are lawn mowers, tractors, washing machines and vacuum cleaners. Even more fun items like decorations and lights/sound for parties can be great things to share. The items that are smart to share differ slightly if you live on the countryside or in the city. For example, neighbours on the countryside can share all motor- or electricitydriven items (such as a chainsaws and pressure washers) that are not used every day. Neighbours in the city can naturally also share these items, but if one lives in smaller appartments it is better to share things like vacuum cleaners, washing machines and/or bikes.

More about a sharing economy

A sharing economy is also known as a collaborative economy and/or a peer-to-peer economy. The most common trait is that they all facilitate transactions between people.

More so, in some nations, the tax offices have had a negative perception of sharing economies. Since most transactions should be declared and in many cases taxed. However, since the transactions don’t flow through conventional or traditional businesses, many of the collaborations are not being taxed. In some nations however, smaller incomes from for example renting out items, are below the limits of amounts that need to be declared.

 


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