Financially Sustainable Circular Business Practices

Together with several European partners, the Research Group New Finance has examined what businesses need in order to adopt (more) circular business practices. Based on our findings, we subsequently developed educational materials to equip our students for this new approach. In doing so, they will be able to support their future employers in implementing circular business practices in a financially sustainable manner.

Background

An increasing number of businesses are taking steps to implement circular business practices. During this process, the focus is often on technical solutions, while there are also other aspects that require attention. For example, how do you ensure that circular business practices become profitable and how can businesses do this in a financially healthy way? And how do we ensure that our students develop the knowledge and skills needed to take the lead in this transition? To address these questions, we participated in the international Erasmus+ ACES project (Accounting for Circular Economy and Sustainability). A key objective of this project was the development of appropriate educational materials.

Approach

In collaboration with our European partners, we mapped the challenges through a literature review and interviews with stakeholders across Europe. This allowed us to understand the challenges they face and the support they need. Based on these insights, we developed targeted educational materials to prepare students to guide their future employers in adopting financially sustainable circular business practices. 

Results

The educational materials developed consist of 3 modules: business models, management accounting and financial accounting. Each module comprises an introduction (microcredential) of 1 ECT, supplemented by 4 ECTS of teaching materials, exercises and literature. In a follow-up project, we aim to further refine the current materials and enhance their practical applicability. By restructuring them into smaller units with fewer credits, the content can be more easily embedded within the curriculum. Circular business practices are a highly relevant theme that will only grow in importance in the coming years. For that reason, we will continue to invest in this field.

Project duration

This research project was completed in 2025.

Collaboration partners

For this project, we collaborated with:

• Haaga-Helia University of Applied Sciences, Finland
• Universidad de Alcalá, Spain
• European University Cyprus
• Impact Hub

Funding

This project was made possible in part through financial support from the European Union.

Team 

Researchers involved from the Research Group New Finance: 

• dr Sebastiaan Morssinkhof
• Sanne Ursem (since early 2025)
• Begoña Gilabert (until early 2025)