Circular Business Models for SMEs in the Fishing Gear Industry

Abstract

Recycling plastic materials including fishing nets, ropes, and components (FNRCs) through the business models of SMEs and microenterprises can ensure both economic and environmental benefits. The aim of this chapter is to explore how a circular business model for SMEs in the fishing gear industry can be realised and to provide increased understanding of the circular business model processes. The study examined the development of circular business models and practices of circularity by companies in the fishing gear industry. We applied a qualitative research design and developed frameworks to evaluate the practice of circularity. The qualitative analysis and findings of the cases provided unique insights on the level of circularity of SMEs within the marine plastic recycling value chain in the north-western part of Norway. The main outcome of this research was the proposed framework for a circular business model for the fishing gear industry.