How the sharing economy became business as usual

What is the sharing economy?

The sharing economy is about maximising underused resources by using tech to connect supply with demand.

Think: less ownership, more access. Whether it’s a spare room, an empty seat, or a killer skill set, if someone’s got it and someone else wants it, the sharing economy makes the match.

You might also hear it called the collaborative economy, gig economy, peer-to-peer economy, or access economy. It’s all the same: sharing, renting, swapping, gifting—usually between individuals, but businesses are jumping in too.

From Gumtree to gig work and everything in between

Big names like Airbnb, Uber and Gumtree are front and centre in today’s sharing economy, but the model’s been around for decades. eBay led the way back in the mid-90s, giving everyday people a platform to buy and sell online.

Now, the sharing economy covers a bunch of industries, including:

• transport through rideshares,
• retail via online marketplaces,
• travel, like home-sharing,
• entertainment such as online streaming,
• employment, with freelancing and the gig economy, and
• finance with the rise of crowdfunding.

It’s all driven by one thing: supply meets demand.

Got a spare seat, and someone nearby needs a lift? That’s a ride. Empty apartment plus traveller on the hunt? That’s a booking. A niche skill that a business needs for one project? That’s a freelance job. Simple, efficient, and way more flexible than the old-school way of doing things.

Billions in value and only just getting started

Australia's sharing economy is on a sharp upward trajectory, with research forecasting it will reach $27.3 billion in value by 2034.

Consumer trust is keeping pace with this growth. In fact, 52% of Australians now say they trust shared economy services more than traditional providers, according to Plenti. This is a strong signal of how quickly the model has gained ground.

But the appeal goes beyond savings and convenience. According to PwC’s global research:

• 78% of US adults believe the sharing economy helps build stronger communities.
• 76% say it’s better for the environment by reducing resource consumption.

And when it comes to transport, services like Uber are now firmly part of the mainstream. Research shows:

• 86% of customers view Uber as a standard travel option.
• 83% consider Uber a safe option.

The data says it all. What started as an emerging trend is now a central part of how people live, work, and move.

Built for consumers now powering corporates

It’s not exactly brand new, but more and more big-name sharing platforms are stepping beyond the consumer space and into the corporate world.

According to Ed Stalley, former Head of Product for Corporate Brands at Flight Centre Travel Group, it’s a natural evolution. After all, whether it’s a weekend ride or a workday trip, it’s the same end-user at the other end of the app.

Take Uber for Business. It’s been available in Australia for over five years and is a clear example of how a consumer-first service can deliver real value for corporates too.

Turning simplicity into strategy

“Companies are always looking for ways to improve compliance with their travel programs, and improving the traveller experience based on their user feedback is key. With travellers able to expense Uber trips today, it's a natural progression that corporates want to formalise that arrangement and improve visibility,” says Ed.

Even Uber for Business’ Global Head, Ronnie Gurion, called the shift from consumer to corporate “magic” when he spoke at Flight Centre Corporate’s Illuminate conference in 2019.

"Where Uber really did take the world by storm was through its simplicity and ease of experience. There was this consistent, very easy-to-use experience on the consumer side. And then the question became: how do we start to make that same experience available for businesses? And that's what Uber for Business was really created to do," said Ronnie.

Closing the loop on ground travel

Taxis and ground transport have always had a place in company travel policies, but they’ve usually been expensed after the fact, with employees paying upfront and claiming it back later. The problem? It leaves little to no data on the trip and almost zero visibility or control for the business.

“Companies were increasingly asking us how we could help. So, we partnered with Uber to design a solution that gives corporations control of their Uber program with complete visibility of travellers and their spend. This results in significant time and cost savings in both the cost of the ride and processing expenses. And the traveller has an improved experience with no out of pocket expenses and Uber trips integrated into their travel itineraries,” says Ed.

As the sharing economy continues to grow, Uber has climbed to the top as one of the most expensed items in many business travel programs. What makes it so seamless is that it runs through the same app employees already know and love. With detailed data, built-in controls and clear visibility behind every ride, companies are increasingly viewing Uber for Business as an essential part of their travel toolkit.

From customer requests to next-gen solutions

Just like travellers are shaping the future of travel, sharing economy platforms like Uber for Business and Airbnb for Work are evolving to match. Their next move? Listening closely to what customers want and building around it.

“We launched to go after the travel sector; the consultants, the salespeople, the executives who were travelling either locally or when they're on a business trip. And then what we saw was all kinds of innovative companies and different use cases where they were coming to us saying, ‘can you do this, and can you do that? We want to use Uber in much more robust ways, not just for our employees but for our customers and our recruiting candidates. Can you do the same thing with Uber Eats?'” said Ronnie.

From that customer feedback and the growing demand for more flexibility came Uber Central. It gives businesses the ability to book rides for people outside their organisation, like clients, customers or recruits, and track the journey from start to finish. And, in true sharing economy style, the service is being shaped by what the market actually wants.

“You could do ride vouchers at scale; we have retailers that are sending millions of vouchers out to customers to encourage them to come to the store or auto dealers for when you drop off your car. So, business travel was the first use case, but there are lots of B2B applications across the whole spectrum of a business, not just business travel,” said Ronnie.

Smarter tools for smoother trips

Sharing economy services like Uber are now so ingrained in the way we travel that it’s hard to remember when things changed—or how we ever did it differently. That seamless integration? It's all thanks to digital platforms that make life easier for both travellers and the businesses backing them.

And it’s only going to get slicker from here. So, why just keep up when you can get ahead? Start building smarter, more flexible options like Uber for Business into your travel program now. Your future self will thank you.