Circular Business Models+
The adaptation of the circular economy is progressing slowly in Austria. With a circular Material Use Rate (CMU) of 10.8% was Austria in 2020, behind the EU27 average 11.7%. This is due, among other things, to the comparatively low adaptation of circular Business models in the Austrian economy. Circular models in the field of Waste and recycling management are successful throughout Austria and internationally recognized. However, models that enable resource use at a higher functional level through reuse, repair, refurbishment, etc. and thus reduce material consumption in absolute numbers are rarely represented.
In the transformation of our linear economic system into a circular economy, the development and establishment of new, circular business models is a fundamental building block. The Austrian circular economy strategy clearly emphasizes the relevance of developing and promoting circular business models. Small and medium-sized companies are reluctant to implement these business models due to a lack of awareness and challenges - with financing and planning security however, it is often excluded.
What is missing is an offer that supports small and medium-sized companies in recognizing the potential of circular business models and helps them overcome the hurdles to successfully implementing circular business models. As part of FFG funding, Thinkubator is addressing this problem.
SMEs face many challenges when adopting circular business models. In addition to a lack of awareness of the benefits of these models, a lack of financing and planning structures hinders the transformation. This raises key questions that we have analysed in the project:
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How Might We create a robust framework that demonstrates the financial viability of circular business models to financial stakeholders?
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How Might We help banks/entrepreneurs identify/showcase bankable & taxonomy compliant Circular Business Models?
We worked with experts and companies to analyse these and other key issues. The resulting findings and solutions are now summarised in our report - available for download now!
To overcome the identified barriers, we have developed the Circ-Risk tool as a central solution. This tool enables companies to visualise the specific risks and opportunities of their circular business models. It helps to demonstrate the financial viability of their concepts and build confidence among investors.
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With this solution we want to improve the financing situation for circular business models and support SMEs in the successful implementation of sustainable business strategies.
More to come soon!
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