Circular Economy Models: A Blueprint for Sustainable Entrepreneurship

Abstract

The circular economy is an alternative to the linear economy, which is based on the take-make-waste model of production and consumption. The circular economy aims to reduce environmental impacts and resource depletion by designing products and services that minimize waste, extend the lifespan of materials, and regenerate natural systems. Entrepreneurs play a key role in the transition to the circular economy, as they can create innovative solutions that address the needs and preferences of customers, while also generating positive environmental and social outcomes. This chapter provides a comprehensive overview of the circular economy concept and its principles, as well as a framework for developing and implementing circular economy business models. It also showcases a variety of examples of successful circular economy ventures from different sectors and regions, highlighting the benefits and challenges of adopting this approach. The chapter concludes with some recommendations for entrepreneurs, policymakers, and educators who want to support and promote circular entrepreneurship.