I founded Weroom – the social marketplace for flatsharing – in Paris in 2013. After a bad flatsharing experience, I wanted to launch a platform to match people to their ideal flatshare based on the kind of people living in it, not just the property itself.

Since launch Weroom has grown rapidly to over 300,000 international users globally and properties in six markets.

The sharing economy is becoming an integral part of everyday life around the world, be that a consumer renting out their home for a holiday rental or a more permanent room renter, or sharing skills and hobbies with others.

As more start-ups rise to the challenge to participate in what is slowly becoming a saturated, yet widely diverse market, the sharing economy - unfazed by Brexit - could contribute £140bn to the UK by 2025, according to PwC.

So why is the sharing economy so successful in the UK today? The short answer to this question is that sharing economy services often provide affordable and efficient solutions to different aspects of daily life.

For example, as a sharing economy start-up, Weroom appeals to a large proportion of young professionals, particularly those living in London. The housing crisis has caused demand and rental costs to rise exponentially in recent years and, as a result, flatsharing has stepped in as a financially beneficial and enjoyable solution.

A lack of affordable housing has fuelled the sharing economy in property

Looking at other industries, ongoing transport issues and costs in the capital have paved the way for brands like UberPOOL and JustPark to tend to consumer demand, whereas companies such as BorrowMyDoggy and Streetbank allow people to share pets and possessions whilst retaining a social element of the sharing experience.

With some businesses addressing necessities and others more recreational, the sharing economy has become a concept that people not only rely on, but something that they enjoy being a part of.

The sharing economy is an understandable success, however the fundamental barrier that faces businesses in this industry is trust.

Showing the authenticity of a business and the transparency of its model is a necessary step businesses should take to overcome the trust barrier that consumers often hide behind before they consider adopting the ‘sharing is caring’ mentality.

The nature of peer-to-peer business, the base on which sharing economy start-ups are built, can also be a company’s biggest challenge.

The sharing economy is one solution to the lack of parking near city centres

Consumers not only need to put their trust in the business facilitating the peer-to-peer exchange, but they also need to put their trust in their fellow peer who, unlike a business, may not necessarily have a wider and more established reputation for the consumer to depend upon.

When looking into the future of the sharing economy in the UK, studies suggest that the only way is up and that the sharing economy will continue to become a strong financial contributor to the UK.

This may be a problem that the sharing economy may never quite know how to solve but many consumers enter an exchange fully aware and - most importantly – are accepting of the potential risks that may arise within peer-to-peer transactions.

There may not always be a strong feeling of trust between peers, but I am confident the positive attitude that consumers have towards the sharing economy will continue to grow in the years ahead.