Exploring New Trends in the Business World

Global Business EconomyIn the world of constantly evolving technology and new start-up businesses popping up everywhere, change is inevitable. Businesses are catching on to new trends that appeal to both the business owners and the clients. Giving back to the community is becoming a trend in itself.

One example of this is the sharing economy platform, also known as the peer economy. In the sharing economy, owners rent out something that they are not using, such as a house or a car to a stranger using these peer-to-peer services. These companies typically have a rating or review system so that people on both sides of the transaction can trust the other. With the popularity of these services, many people are realizing that they don’t need to buy when they can rent from others and save money along the way. Some examples of these companies are sites like Airbnb and RelayRides.

Another new trend that businesses are catching onto that benefits both the company and the client is to become a benefit corporation. These new corporations are required to consider the impact of their decisions not only on shareholders but also on workers, community, and the environment. Benefit corporations represent a new breed of businesses that harness their power and resources for public good. They are committed to making a profound social difference for both people and the planet. These corporations hold transparency to a very high standard and are required to make available to the public an annual benefit report that assesses their overall social and environmental performance.

Some examples of existing benefit corporations are Etsy, Patagonia, and The Honest Company.