What is the sharing economy?
In the sharing economy, individuals and businesses share their assets with others for a price. Arrangements are generally made using online platforms through a third party, or using a website or an application (app).
The sharing economy can take a variety of forms, such as:
- Transportation: ridesharing, rentals of bikes, boats, other motor equipment
- Accommodation sharing: renting out your home, rooms, cottage and more
- Space rentals: industrial kitchens, gardens, parking spots, workspaces, or laboratories
Some examples of the types of online platforms considered to be part of the sharing economy include Airbnb, CanadaStays, Uber, and Lyft.