Sharing Economy UK trade body to join CBI

Airbnb, Gumtree, TaskRabbit, HURR and ByRotation among leading tech businesses to join new CBI Council

Today (Thursday) CBI President Lord Bilimoria will announce the integration of Sharing Economy UK (SEUK) into the CBI over August 2021. SEUK has been a partner of the CBI since 2017, though it has maintained its own independence and unique objectives. Working in collaboration with the CBI the trade body helped establish the industry’s trust and safety initiative which helps to better protect both businesses and consumers and has successfully championed the introduction of the world’s first sharing economy tax breaks.

The UK’s Sharing Economy is expected to be worth £140 billion by 2025¹ and represents many of the best of British digital SMEs. To support this industry, the CBI will set up a new council that will fall within the CBI’s existing main governance body. The council will be tasked with looking into the challenges and opportunities facing the industry. Working alongside the Innovation and Tech Council, SEUK will play a key role in setting and steering wider CBI policy across a range of topics including tax, tech and net-zero.

Founded in 2015, SEUK represents a wide range of platform businesses from car-sharing and accommodation rentals to world-leading online marketplaces. These companies enable people to trade their space, skills and stuff. Their collective mission is to empower people to utilise existing resources and reduce waste.

The CBI has outlined its plans for the UK to become the most dynamic, competitive future focused economy dubbed, Seize the Moment, as part of that mission it is working on a programme targeted at scaling-ups firms and raising UK productivity, more information on this can be found here.

Lord Karan Bilimoria, CBI President, said:

“It’s fantastic to announce the integration of Sharing Economy UK formally into the CBI. Sharing Economy UK has been a long-standing business partner, working together over the years we have managed to tackle of number of barriers to growth facing the sector.

“As sustainable and digital savvy businesses, these companies have continued to trade, adapt, and give back to communities all throughout the pandemic, utilising the power of tech.

“As the Vice Chair of the All-Party Parliamentary Group for Entrepreneurship, and as founder of a small business from scratch that grew into a global business, representing a wider-range of SMEs within the CBI has been a key priority of mine and I hope to see this merger accomplish just that. I look forward to working with the new Council to create a better business environment that enables all firms to thrive.”

Juliet Eccleston, Sharing Economy UK Chair, said:

“We’re excited for Sharing Economy UK to enter this new chapter. The Sharing Economy is one of the UK’s most innovative and fastest growing sectors, and its economic, social and environmental impact cannot be underestimated. Particularly as tackling the climate crisis escalates up the government and public agenda. Having the backing of such a respected institution we hope to raise the profile of sharing economy businesses even further.”