World Development Sustainability (Dec 2024)
Green entrepreneurship: Opportunities and challenges for the transition to a circular economy in Togo, West Africa
Abstract
The traditional linear economic model, characterized by extraction, production, consumption, and waste disposal, has increasingly exposed its limitations, particularly in the depletion of natural resources and the acceleration of global warming, which are critical global issues. These challenges inherent in the linear economy have prompted a shift towards a circular economy. This study analyzes the opportunities and challenges for transitioning to a circular economy through green entrepreneurship among 29 environmentally friendly entrepreneurs in Togo, West Africa. The descriptive analysis of the results revealed that green entrepreneurs are mainly motivated by economic factors, such as job creation and business opportunities, which take precedence over environmental motivations. However, they face significant challenges, including a lack of access to appropriate financing and complex administrative procedures that affect their growth. It is essential to develop themselves, provide specific support by alleviating bureaucratic obstacles to access to finance, and meet economic and environmental goals from green entrepreneurship. In addition, it's important to advocate for pro-environmental behavior among the general public and to support research and development to increase understanding of the advantages of promoting environmentally friendly entrepreneurship for sustainable development while combating climate change. Mainstreaming gender into circular economy policies design and implementation for sustainable development is crucial due to the low representativeness of women in green entrepreneurship. These measures will strengthen Togo's economic resilience while enabling the transition to a circular economy, thus aligning financial objectives with environmental preservation in pursuing green entrepreneurship.
