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Latest News / Sharing economy has expanded definition of entrepreneurship

 

Greater adoption of sharing and circular economy principles has expanded the definition of work and entrepreneurship, according to the latest World Economic Forum report.

The Harnessing Public-Private Cooperation to Deliver the New Urban Agenda 2017 Report, discovered that an increasing focus on sustainability and the efficient use of resources by individuals and businesses has created new markets and changed our understanding of entrepreneurship. This broader definition attributes efficient asset use and social ties to entrepreneurship in a way it previously had not.

The report concludes that innovation and entrepreneurship are key contributors to not just economic progress, but also social and environmental sustainability, highlighting their role in overcoming the challenges of urban development and a growing population.

The role of private businesses, including start-ups, in driving sustainable development for society was a repeated theme of the report. It highlighted that innovative business models have significantly accelerated progress towards a circular economy, rather than following the lead of governments and community.

In a section exploring the way technological developments can be leveraged by businesses to overcome societal challenges, the report notes technology is, “giving the private sector opportunities to design and create valuable projects that enhance economies of scale, achieve sustainable outcomes and are based on innovative business models.”

You can access the full report here.

 


 

Sharing economy has expanded definition of entrepreneurship
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