United Kingdom: An Examination of the Configuration of the Sharing Economy, Pressing Issues, and Research Directions

This chapter aims to examine the configuration of the sharing economy in the United Kingdom. The chapter provides an examination of the key opportunities and challenges that this socio-economic model generates in the country. It includes an account of different sharing economy initiatives in the United Kingdom, including crowdfunding projects, tool libraries, timesharing banks, men’s sheds, and shared workspaces, commercial sharing economy services, micro-libraries, community-gardening projects, and paid online peer-to-peer accommodation. Increased consumer choice and economic benefits derived from an extended economy around the sharing economy are identified as key opportunities. Key challenges relate to policymaking and taxation of businesses and participants in the sharing economy, as well as the wider enforcement of health and safety regulations and the impact that the recent pandemic is having on the industry. The chapter also provides an examination of the latest developments and regulations in this area. In addition, the chapter identifies the most pressing issues and possible future directions of research in this context.