The sharing economy is picking up speed. It is defined as a peer-to-exchange of goods and services, in which citizens rent or share resources. Companies involved in the sharing economy include Airbnb—where a host rents out part of his or her home to someone looking for a temporary place to stay. Companies like this are growing in size and it would bode well for business owners to adopt some of these characteristics in order to increase the chances of being successful.

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