Page 19 - Economy_Sustainable Global Economy

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This business model covers a small but growing part of the economy. It provides new opportunities for
people to offer their services (including on a temporary and part-time basis) and for entrepreneurs to
reach more potential customers, as well as offering customers lower prices and greater choice.

Taking in account all these stakeholders, we can mention some benefits of the Sharing economy:

• Decreasing environmental effects. Sharing economy ensures products are cycled and reused to its
complete life cycle, thereby, reducing the effects on the environment.

• Accessibility to self-employment opportunities. Collaborative consumption offers economic benefits for
everyone involved. For instance, you may eliminate the cost of car ownership, reduce your travel expenses,
and secure valuable financial support for a new business idea that may not have been fundable otherwise.

• Embeds a sense of trust in the community. Sharing economy’s contribution to societal concerns isn’t just
restricted to the environment. One very important aspect of sharing economy is instilling trust amongst
community members

• Higher savings with the same lifestyle. The Sharing Economy has provided means to have a desired
lifestyle without burning a hole in your pocket.

• More business opportunities. It’s more likely to force existing industries to become more like the
collaborative platforms that challenge them, with potential benefits for everyone involved.

•Lower ownership. Today, if you can get more of what you need through the sharing economy, you may be
able to live a leaner existence that requires fewer valuable possessions – and fewer worries about them

• Easy access to capital. crowdfunding became an easy and convenient way of raising funds by connecting
people in need of money with those willing to give.