Have you used an internet sharing service like Uber or Airbnb?

The internet is full of sharing platforms for every sort of need, creating opportunities for entrepreneurship, new relationships and greater productivity for ourselves and the things that we own. The idea of using the internet to facilitate opportunities to borrow and/or rent equipment and services has come to be known as The Sharing Economy.

While the Sharing Economy includes the more formalized services that you are likely familiar with (HomeAway, Lyft, etc), it can also include small businesses who barter and trade with each other to network and grow. According to The Economist, the services based on the philosophy of peer-to-peer sharing work best when anchored to goods and services “that are expensive to buy and widely owned by people who do not make full use of them.” Cars are an easy example of this, and so are homes with empty rooms. For established companies, this can include office space or expensive office equipment. The practical result is that access is increased between people and the things that they need, while a larger result is that less resources are wasted. Furthermore, while the internet is often blamed for decreased face-to-face interaction between people, the Sharing Economy is the ultimate facilitator of face-to-face business. With increasing market share, thanks to increased usership as well as expanded use by “veteran” companies hoping to take part, the Sharing Economy has potential to change the economic landscape for the considerable future.