Home Run - Achieving A Successful Exit In The Sharing EconomyFive years ago it was a novelty. Today the 'sharing' or 'collaborative' economy has become part of the fabric of everyday life for increasing numbers of people in the UK.That's partly due to the success of global brands such as Uber and Airbnb, But these poster children for platform-driven collaborative commerce represent only the tip of an expanding iceberg.According to a report published this year by accountancy firm PWC, the five dominant sectors in the UK's sharing economy - namely collaborative finance, holiday letting, transportation, household services and professional services - are set to collectively grow by around 60%, or £8bn, in 2017. Similar growth is expected across Europe as a whole. Not surprisingly, the sector has become a magnet for startups. But the sharing economy sector can be challenging. To achieve achieve the kind of success that comes from scaling nationally or internationally, entrepreneurs must not only come up with a service idea that is genuinely appealing to sufficient numbers of people, but also demonstrate that buyers and sellers can trust the platform. Added to that, there is the perennial challenge of building a brand and gaining traction in a crowded market.
Five years ago it was a novelty. Today the 'sharing' or 'collaborative' economy has become part of the fabric of everyday life for increasing numbers of people in the UK.That's partly due to the success of global brands such as Uber and Airbnb, But these poster children for platform-driven collaborative commerce represent only the tip of an expanding iceberg.According to a report published this year by accountancy firm PWC, the five dominant sectors in the UK's sharing economy - namely collaborative finance, holiday letting, transportation, household services and professional services - are set to collectively grow by around 60%, or £8bn, in 2017. Similar growth is expected across Europe as a whole. Not surprisingly, the sector has become a magnet for startups. But the sharing economy sector can be challenging. To achieve achieve the kind of success that comes from scaling nationally or internationally, entrepreneurs must not only come up with a service idea that is genuinely appealing to sufficient numbers of people, but also demonstrate that buyers and sellers can trust the platform. Added to that, there is the perennial challenge of building a brand and gaining traction in a crowded market.
