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OCC: Harnessing the Power of the Sharing Economy

Friday, August 28, 2015

Next Steps for Ontario

This morning the Ontario Chamber of Commerce released a new report, Harnessing the Power of the Sharing Economy, which calls on governments to move quickly and boldly to ensure that Canada and Ontario realize the full potential of the sharing economy. The report calls for immediate action to be taken to fill any insurance gaps and ensure tax compliance.

Harnessing the Power of the Sharing Economy If adopted, the recommendations would make Ontario the first jurisdiction in the world to take a comprehensive approach to address the growth of the sharing economy.

The past several years have witnessed the rise of new models of consuming and accessing goods and services, often referred to as the “sharing economy”. Fueled by companies such as Uber, Autoshare, and Airbnb, the sharing economy enables individuals to obtain rides, accommodations, and a wide range of other goods and services via online platforms in exchange for monetary and non-monetary benefits.

The report finds that nearly two thirds of Ontarians believe that the growth of companies in the sharing economy is good for Ontario’s economy. It also finds that nearly 40 percent of young Ontarians (18-34) are consumers in the sharing economy.

Read this report

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