Feasibility of Sharing Business Model for the Clients of Greenville Small Business Development Center - Coursework Example

The paper “Feasibility of Sharing Business Model for the Clients of Greenville Small Business Development Center ” is an excellent example of macro & microeconomics coursework. Sharing economy is relatively a very new and unique concept that has gained huge attention from individuals and business entities around the world. The main idea behind sharing economy is to connect the owner of an idle asset with the potential buyer or renter over an online platform. The purpose of this paper is to analyze the various business models, critical success factors, and possible problems in sharing economy and to recommend whether this business model is suitable for Home Improvement Services and KC’s Vintage Couture.

The various types of sharing business models are sharing of cars, sharing of rooms or land, sharing of time, sharing of unused goods, and sharing of information and talent. Other than these, there are many other forms of sharing businesses that are emerging globally. The driving forces behind sharing economy are the rising trend of technological advancement and internet usage. Moreover, increasing ease in financial transactions worldwide and frequent financial crisis in the traditional business sectors have also triggered the upsurge of sharing economy.

The success of these sharing business models is based on the role of the users, that is, the two main parties- the owner or supplier and the buyer or renter. These users can frame the brand of the platform companies. Trust and transparency among the users and also with the platform company determines the success or failure of these companies. The good or service advertised on the platform should be useful and all information about that product or service should be disclosed. These factors will result in successful deals between the parties and will make the company successful.

Recently, few critics and controversies have evolved regarding improper background verification of the users, over-exploitation, and poor treatment of the workers. Due to these reasons governing bodies around the world have started to regulate this sector which has affected the level of innovation and uniqueness that inspires these businesses. However, by proper management and minimum background verifications, these problems can be sorted.