The Sharing Economy is Here to Stay

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Author Jeremy Rifkin argues in his new book, The Zero Marginal Cost Economy, that the information goods industry and sharing economy are leading to a new non-economy. Platforms like Youtube have removed almost all publishing and marketing costs for content creators, while companies like Uber and AirBnB are doing the same for their industries. These new companies are allowing millions to share assets with minimal expense. What does this mean for the world of business going forward?

For one thing, the future of employment won’t be a straight line. It was once common for employees to spend most of their life working with a single company, but the average employee now sticks around only 4.4 years. The youngest employees stay just half that long. The result, Rifkin argues, will be an economy driven by contracted workers like Uber drivers; a pool of talent that companies can tap when they need it. If you want to prepare your business for this future marketplace, you’ll have to take a few steps. Keep fixed costs low, for example, and outsource non-core activities and rely on the sharing economy to avoid compromising service. Find out what else you’ll need to do to keep up with the changing times below!

Read the full article here: The Sharing Economy Isn’t a Niche. It’s the Future of Market Capitalism.

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