Detecting Barriers and Drivers to the Adoption of Circular Business Models in Small Companies from Developed and Developing Countries

Circular business models (CBMs) have become crucial elements of the ecological and social transition of developed as well as developing countries. However, there is a lack of research focusing on small firms that are adopting CBMs, while facing various resource constraints. As small firms are becoming more conscious of the advantages of CBMs, there is a practical need to identify barriers and drivers to the adoption of those models, to accelerate their development trajectory. To contribute to these theoretical and practical needs, in this paper, we consider the CBMs of small firms and focus on a comparison between developed and developing countries. We employ a qualitative multiple case study of 18 French and 18 Serbian firms to identify mutual barriers and drivers as well as to reveal their distinctive characteristics. Overall, the paper shows the potential that small firms have to positively influence the economy by adopting CBMs.