Sharing Economy

The Sharing Economy has been a key growth pillar for the UK economy. Over the past decade, venture capitalists have invested £3.47bn in 465 sharing and on-demand economy businesses, according to data provider Beauhurst. While almost half of the British public use sharing economy apps to access goods and services.

To better understand how the UK can best support entrepreneurship and innovation in the sharing economy, the APPG for Entrepreneurship held a call for evidence and heard from a range of entrepreneurs, researchers, and business groups on the impact of Government policy, such as taxation and regulation, on this innovative sector.

Although the sector has grown rapidly in the UK - and offers clear benefits for the Treasury, consumers and for access to earnings opportunities - sharing economy entrepreneurs expressed concerns about the direction of policy. In particular, changes to tax and regulatory policy could have a significant impact on investment in the sector.

This APPG for Entrepreneurship report sets out the key issues that entrepreneurs in the sharing economy are concerned about. It advocates for a continued level-playing field on tax and for preserving the regulatory environment that has allowed the sector to flourish, while also empowering platforms to prioritise standards.