CBI president, Lord Karan Bilimoria, is today expected to announce the integration of Sharing Economy UK into the CBI.

Founded in 2015, SEUK represents a range of platform businesses from car-sharing and accommodation rentals to major online marketplaces - enabling people to trade space, skills, and a range of other goods and services. Its mission is to support people in using existing resources so as to reduce waste.

Lord Bilimoria said: “It’s fantastic to announce the integration of Sharing Economy UK formally into the CBI. Sharing Economy UK has been a long-standing business partner, working together over the years we have managed to tackle of number of barriers to growth facing the sector.

“As sustainable and digital savvy businesses, these companies have continued to trade, adapt, and give back to communities all throughout the pandemic, utilising the power of tech.

“As the vice-chair of the All-Party Parliamentary Group for Entrepreneurship, and as founder of a small business from scratch that grew into a global business, representing a wider-range of SMEs within the CBI has been a key priority of mine and I hope to see this merger accomplish just that. I look forward to working with the new Council to create a better business environment that enables all firms to thrive.”

Juliet Eccleston, Sharing Economy UK chairman, added: ““We’re excited for Sharing Economy UK to enter this new chapter. The Sharing Economy is one of the UK’s most innovative and fastest growing sectors, and its economic, social and environmental impact cannot be underestimated. Particularly as tackling the climate crisis escalates up the government and public agenda. Having the backing of such a respected institution we hope to raise the profile of sharing economy businesses even further.”

The UK’s Sharing Economy is expected to be worth £140bn by 2025, according to analysis from PwC.

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