Circular Economy as a Prerequisite for the Formation of Innovative Platforms in the Sustainable Development of Entrepreneurs

Abstract

The article is aimed at defining, substantiating and justifying the economic feasibility of forming a new circular economy model as an innovative platform for sustainable development. As a result of the research, it is determined that the strategic priority of sustainable development of the State is the formation of a qualitatively new model of development of the national economy on the basis of a symbiosis of the circular and environmental economies, facilitating the use of local resources to meet the needs of the economy and ensuring the formation of the closed material and resource cycles. It is proved that the circular economy is a new approach based on the possibility of reproduction, reuse of labor results after their modernization. The principles of closed-loop economy are distinguished as follows: production of durable and reliable products; possibility of repair; reuse; modernization and upgrades; recycling; compatible use; virtualization of production. The general features and differences of the theory of circular economy are singled out. It is emphasized that when forming a new model of circular economy, it is necessary to take into account and link the development of environmental innovations and, accordingly, the ecological economy. However, determining the impact of the environmental economy on the new model of circular economy requires further thorough research.

Keywords

• circular economy
• closed-loop economy
• sustainable development
• national economy
• innovation platform
• new development model