The sharing economy, often appearing in IELTS Writing Task 2 questions, is a hot topic. This essay type typically asks you to analyze its effects, particularly on traditional businesses. This article will guide you through crafting a band-8 worthy essay on this subject.

Here are a few potential essay questions related to this topic:

1. To what extent do you agree that the sharing economy has a negative impact on traditional businesses?
2. The rise of the sharing economy has led to calls for greater regulation. Do the advantages of regulating this area outweigh the disadvantages?
3. Discuss the challenges and opportunities that the sharing economy presents to both consumers and traditional businesses.

Sample Essay Question

To what extent do you agree that the sharing economy has a negative impact on traditional businesses?

Analysis

This question requires you to take a stance on whether the impact of the sharing economy on traditional businesses is primarily negative. You should discuss both sides of the argument, providing clear examples and supporting your viewpoint with strong reasoning and evidence.

Model Essay

The sharing economy, characterized by peer-to-peer transactions facilitated by online platforms, has undeniably disrupted traditional business models. While this innovative approach offers numerous benefits to consumers, its impact on established industries has been a subject of intense debate. This essay argues that although the sharing economy poses certain challenges to traditional businesses, its overall effect is not entirely negative.

On the one hand, the sharing economy has created significant competition for established businesses. Platforms like Airbnb and Uber, for instance, offer consumers alternative and often cheaper options for accommodation and transportation, directly challenging hotels and taxi companies. This has led to price wars, decreased profits, and in some cases, job losses in traditional sectors. Furthermore, the regulatory landscape for the sharing economy is still evolving, often putting traditional businesses at a disadvantage. While they must comply with established regulations and tax laws, their sharing economy counterparts sometimes operate in a grey area, benefiting from less stringent regulations and lower operating costs.

Sharing Economy Platforms

On the other hand, the sharing economy also presents opportunities for traditional businesses to adapt and innovate. For instance, some hotels have partnered with Airbnb to offer unique experiences or manage properties listed on the platform. Similarly, car rental companies have integrated their services with ride-sharing apps to expand their customer base. This demonstrates that traditional businesses can leverage the sharing economy to their advantage by embracing collaboration, adopting new technologies, and diversifying their offerings. Additionally, the sharing economy fosters entrepreneurship and creates new markets, ultimately benefiting the overall economy. By providing a platform for individuals to monetize their assets and skills, it stimulates economic activity and creates new avenues for growth.

In conclusion, while the rise of the sharing economy has undoubtedly presented challenges for traditional businesses, it is inaccurate to categorize its impact as entirely negative. The sharing economy has compelled traditional businesses to adapt, innovate, and become more customer-centric. Ultimately, those businesses that embrace the opportunities presented by this new economic model are likely to thrive in the long run, while those resistant to change may struggle to remain competitive. (Word count: 323)

Writing Tips

• Clearly state your position: Take a clear stance on the issue presented in the question.
• Develop a balanced argument: Discuss both the positive and negative impacts of the sharing economy on traditional businesses.
• Provide specific examples: Use real-world examples to illustrate your points, such as Airbnb, Uber, or TaskRabbit.
• Use linking words and phrases: Ensure your essay flows logically and coherently by using appropriate linking words like “however,” “moreover,” and “in conclusion.”
• Proofread carefully: Before submitting your essay, check for any grammatical or spelling errors.

Vocabulary

1. Disrupted (verb) /dɪsˈrʌptɪd/: to interrupt the normal course or unity of
2. Intense (adjective) /ɪnˈtɛns/: existing in or to a high or extreme degree
3. Established (adjective) /ɪˈstablɪʃt/: in existence for a long time and therefore recognized and generally accepted
4. Platforms (noun) /ˈplæt.fɔːrmz/: a place or opportunity for something to happen
5. Alternative (adjective) /ɔlˈtɝː.nə.t̬ɪv/: offering or expressing a choice
6. Regulatory (adjective) /ˈreɡ.jə.lə.tɔːr.i/: of or relating to a person or organization whose job is to control an activity or process by making sure that it follows rules
7. Stringent (adjective) /ˈstrɪn.dʒənt/: extremely limiting or difficult; severe
8. Embrace (verb) /ɪmˈbreɪs/: to accept or support willingly and enthusiastically
9. Collaboration (noun) /kəˌlæb.əˈreɪ.ʃən/: the action of working with someone to produce or create something
10. Thrive (verb) /θraɪv/: to grow or develop successfully

Conclusion

This article has provided a comprehensive guide to approaching IELTS Writing Task 2 questions related to the impact of the sharing economy on traditional businesses. By following the provided structure, tips, and vocabulary, you can craft a well-organized and insightful essay that can help you achieve a Band 8 score or higher. Remember to practice regularly and familiarize yourself with various aspects of the sharing economy to excel in this essay topic.