Revolutionizing Entrepreneurship: Circular Business Models for a Sustainable Economy

Abstract

This study delves into the implementation of circular business models within the entrepreneurial sector as a means to foster a sustainable economy. By conducting a qualitative review of the literature, the analysis includes academic publications and case studies that examine the principles, advantages, and challenges associated with the circular economy in entrepreneurship. The methodology involves synthesizing pertinent literature to identify effective strategies and common obstacles in adopting circular practices. The results indicate that, despite encountering financial constraints, a lack of expertise, and logistical difficulties, the circular economy presents substantial opportunities for innovation and environmental sustainability. These opportunities enhance competitiveness and contribute to long-term economic success. The discussion emphasizes the necessity of cross-sector collaboration, supportive policies, and educational programs to address these challenges. In conclusion, the research underscores the pivotal role of circular business models in transitioning to a sustainable economy, advocating for cooperative efforts among entrepreneurs, policy-makers, and academics to promote sustainable business practices that benefit both the environment and the economy.