Aiding circular business transitions in Southeast Asian small and medium sized enterprises (SMEs) through identifying barriers and enablers — a case study of Thailand based SMEs

The economic system has long relied on a linear model which depends on the excessive use of natural resources, putting enormous pressure on the ecosystem. In the last several decades, the demand for and extraction of resources has been further driven by a radical change in technology, continued population growth, and diversification of products and services. The linear economy proves to be an inefficient model due to the loss of materials to landfills and the under-utilization of products. In addition, unsustainable waste generation and management create additional costs and harm the environment and society. Materials consumption worldwide is estimated to increase eightfold in the twenty-first century and a triple amount of resources will be needed to meet global demand by the end of 2050. Therefore, it is becoming urgent that resource management must be improved to enhance…