Photo by Priscilla Du Preez on Unsplash

The sharing economy is something that people might find fairly new to them and some might not even be aware that it exists. Contrary to popular belief however, people often participate or act within the sharing economy and are not even aware of it. There are so many reasons why people should continue to use the sharing economy and be aware of the benefits that it can bring.

The sharing economy can help increase personal revenue, by letting others enjoy the things you might have hanging around your house, that you don’t use as often as you used to. Letting someone use your cooking utensils that has been sitting in your cupboard for a few months, helps you earn a little extra money and eliminates them from having to purchase a new item that they probably will only use a handful of times. It is a great avenue for entrepreneurs to start their business ideas as well, providing an easy platform to grow on by offering to share or lease items that are in a high demand, but for half the price of someone purchasing their own.

The sharing economy is creating a new and different way of ownership, adding alternative paths and options that are linking people who have assets or goods not being used to people who need or want to use them. By doing this, it creates new networks and communities by connecting people to others and building the trusted relationships needed to carry on its’ positive benefits. By actively participating in the sharing economy, we are opening up new networks between individuals, creating a wider market for that particular asset type.

The idea behind it all, is to ultimately change the consumer habits and promote sharing rather than purchasing, which eliminates unneeded waste and increases social sustainability. By doing this, we are able to take full advantage of the resources that we already have and not let them go to waste. The sharing economy is seen as a big picture type of idea, but it really boils down to the small everyday things that we as humans, engage in all the time. Think of the amount of plastic that it takes to create items such as household tupperware or baby toys. By using the sharing economy to share these items, we are decreasing the amount of plastic that is being made! There are so many ways the sharing economy helps decrease the amount of waste produced, which we all need to start doing.

Helping raise awareness that the sharing economy is something that we all use and interact with on a day to day basis, is something ShareRing is proud to be doing. Embracing the notion of sharing your assets and belongings is the future, and we are very proud to be a pioneer helping create a trusted atmosphere for this sharing to occur.