Sharing Economy UK is set to become part of the Confederation of British Industry in a move reflecting the importance of the sharing economy to the UK economy.
The CBI will manage SEUK operations and will become the voice and guide for the sector, while SEUK will maintain its name and distinct brand.
The news comes as Debbie Wosskow OBE (CEO, Love Home Swap and co-founder of AllBright) steps down from SEUK board and is replaced by Richard Laughton (CEO, EasyCar) as chair.
Wosskow founded the first trade body for sharing economy businesses in 2015 and has led its subsequent work with the government, enjoying some notable successes.
These include the government’s announcement in May 2016 of the world’s first ‘Sharing Economy Allowance’, allowing individuals to earn up to £2,000 tax free on sharing economy platforms and SEUK launching the TrustSeal, the world’s first trustmark for the sharing economy sector.
Josh Hardie, CBI deputy director-general, said: “We are delighted to welcome Sharing Economy UK into the CBI family, as we work to represent the key parts of the modern economy.
“With the sharing economy potentially worth up to £9bn by 2025, this exciting opportunity gives us the chance to develop our work in a rapidly growing sector at the cutting edge of technology and the digital revolution.
“It will also allow Sharing Economy UK – and its challenger, start-up companies – to grow, guided by the CBI’s policy expertise, and reach a whole new range of businesses.”
Richard Laughton, CEO of Easy Car and chair of SEUK, added: “The sharing economy has gone from strength to strength in recent years and we have a great opportunity to establish the UK as a hub for fast growing, entrepreneurial businesses in the sector.
“Since its inception, SEUK has been an effective champion for these firms and the partnership with the CBI promises to strengthen our voice further.”
And Wosskow concluded: “A huge thank you to everyone who has been involved with SEUK over the past two years. We’ve made great progress and achieved some fantastic world first wins for the sector.
“The sector has grown enormously over the past couple of years and, now, it is the right time to hand the baton to the CBI as the organisation is in a great position to advise and guide on key policy and business challenges facing the sector as it continues to expand.”