This study aims to identify and conduct an in-depth analysis of barriers and drivers influencing “Green Entrepreneurship” (GE) and “Circular Economy” (CE) in relation to “sustainable development” (SD) using a systematic review and comprehensive analysis (through case studies, prioritizing and making contextual relationships).
To fulfill research objectives, “Stakeholder Theory” (ST), “Circular Economy Theory” (CET) and “Dynamic Resource-Based View” (DRBV) theories have been used as theoretical frameworks. In addition to this, the “Fuzzy Analytic Hierarchy Process” (F-AHP) was used to prioritize drivers and barriers and “Interpretive Structural Modelling” (ISM) was used to study interrelationships. Further, “Matrice D’impacts Croisés Multiplication Appliquée á Un Classment” (MICMAC) is used to cluster drivers and barriers based on the “driving power” and “dependence power.”
The study’s findings reveal that supply chain and logistics-related barriers, including inefficient transportation networks and fragmented value chains, are identified as the foremost challenges hindering the growth of GE and the development of a CE. Conversely, regulatory and norms-related drivers, collaboration and networking and sustainable ecosystem management-related drivers are highlighted as pivotal factors fostering GE and CE for sustainable development.
The study provides valuable insights for policymakers, entrepreneurs and researchers, offering actionable recommendations to accelerate the implementation of sustainable practices in the corporate world. These recommendations contribute to the global pursuit of a greener and more resilient economy, paving the way for a sustainable and inclusive future.
This study identifies, analyzes and provides a framework for the major barriers and enablers to implementing GE for CE in SMEs. It might be useful for businesses that want to turn their production systems to achieve sustainability.
