Introduction 

The circular economy is a model of production and consumption that aims to eliminate waste and pollution by keeping products, components, and materials in use for as long as possible. This is in contrast to the traditional linear economy, which is based on the "take, make, dispose" model.

The circular economy has the potential to deliver significant environmental, economic, and social benefits. For example, a study by the Ellen MacArthur Foundation found that the circular economy could create up to 100 million new jobs by 2030.

The UK government has committed to a number of policies to support the transition to a circular economy. These include:

• The Resources and Waste Strategy, which sets out a ten-year plan for reducing waste and increasing resource efficiency.
• The Industrial Strategy, which includes a commitment to make the UK a world leader in the circular economy.
• The Environment Bill, which includes measures to promote reuse and recycling.

As a result of these policies, there is growing interest in the circular economy among businesses and policymakers in the UK. I personally would like to research this topic for a number of reasons, including:

• To understand the potential benefits of the circular economy for businesses and society.
• To identify the challenges and opportunities for businesses in adopting circular economy business models.
• To develop new products, services, and business models that are aligned with the circular economy.
• To advocate for policies that support the transition to a circular economy.

Here are some data and evidence that support the need for research on circular economy business models in the UK manufacturing sector:

• A study by the Ellen MacArthur Foundation found that the UK manufacturing sector could save £100 billion per year by 2030 by adopting circular economy practices.
• A report by the British Plastics Federation found that the UK plastics industry could create 65,000 new jobs by 2030 by investing in circular economy solutions.
• A study by the Waste and Resources Action Programme found that the UK construction sector could reduce its waste by 70% by 2050 by adopting circular economy principles.

These data and evidence suggest that there is a significant potential for businesses in the UK manufacturing sector to benefit from adopting circular economy business models. However, there is still a lack of understanding of how to do this effectively. This research proposal aims to address this gap by investigating the business models and capabilities of companies in the UK that are already using circular economy principles.

Research Question:

• What is the percentage of small and medium-sized companies in the UK manufacturing sector that consider the circular economy as a core part of their business model?
• What are the top 5 sectors in the UK manufacturing sector with the highest percentage of circular economy businesses?
• What are the regional differences in the distribution of circular economy businesses in the UK manufacturing sector?
• What are the most common circular actions or initiatives taken by small and large companies in the UK manufacturing sector?
• How do the circular actions or initiatives of small and large companies differ?
• What are the text analytics techniques that you would use to identify these actions or initiatives?
• What are the specific capabilities and practices that are essential for companies in the UK to successfully adopt and maintain circular economy business models?
• How do these capabilities and practices differ for small and large companies?

Methodology:

• The research will be conducted using a mixed methods approach, with a combination of quantitative and qualitative data collection and analysis methods.
• The quantitative data will be collected through a survey of small and medium-sized companies in the UK manufacturing sector. The survey will ask questions about the companies' business models, their use of circular economy principles, and their capabilities and practices for adopting and maintaining circular economy business models.
• The qualitative data will be collected through interviews with a small number of companies that have successfully adopted circular economy business models. The interviews will explore the companies' experiences in adopting these models, the challenges they faced, and the lessons they learned.
• The data will be analysed using a variety of statistical and qualitative methods. The statistical analysis will be used to describe the distribution of circular economy businesses in the UK manufacturing sector, and to identify the factors that are associated with the adoption of these models. The qualitative analysis will be used to understand the experiences of companies that have adopted circular economy business models, and to identify the key capabilities and practices that are essential for success.

Expected Results:

The research is expected to produce the following results:

• A better understanding of the distribution of circular economy businesses in the UK manufacturing sector.
• An identification of the sectors and regions that are leading the adoption of circular economy business models.
• A description of the most common circular actions or initiatives taken by small and large companies in the UK manufacturing sector.
• An understanding of how the circular actions or initiatives of small and large companies differ.
• A development of text analytics techniques for identifying circular actions or initiatives.
• An identification of the specific capabilities and practices that are essential for companies in the UK to successfully adopt and maintain circular economy business models.
• An understanding of how these capabilities and practices differ for small and large companies.

Contribution to Knowledge:

The research is expected to contribute to the knowledge of circular economy business models in the following ways:

• It will provide a comprehensive overview of the state of the art in circular economy business models in the UK manufacturing sector.
• It will identify the key factors that are associated with the adoption of these models.
• It will describe the most common circular actions or initiatives taken by companies in this sector.
• It will develop text analytics techniques for identifying circular actions or initiatives.
• It will identify the specific capabilities and practices that are essential for companies in this sector to successfully adopt and maintain circular economy business models.

Limitations:

The research has the following limitations:

• It is limited to the UK manufacturing sector.
• It is based on a survey of small and medium-sized companies.
• It does not include a longitudinal study of the companies that have adopted circular economy business models.