The London Waste and Recycling Board (LWARB) has launched Advance London to help London’s small and medium-sized businesses (SMEs) adopt ‘circular economy’ business models.
Advance London, which is jointly funded by the European Regional Development Fund and LWARB, will provide practical help and advice to SMEs to ‘catalyse’ the opportunities within the circular economy and improve their competiveness through the adoption of circular business models or scaling up existing circular businesses.
LWARB, a partnership between the Mayor of London and London’s boroughs, claims that the circular economy offers many benefits to businesses, including waste minimisation and opportunities to create revenue streams from waste materials.
Councillor Bassam Mahfouz, circular economy lead at LWARB, said: “London is home to some impressive circular economy leaders. The nature of the circular economy requires collaboration throughout the supply chain and changes the way businesses interact with consumers – Advance London aims to help SMEs in the capital do exactly that.
“As more and more businesses ‘go circular’ new opportunities will emerge for SMEs to be innovative in the way that they tackle market challenges, and this programme will help a number of businesses through the transition. We believe London can be a real world leader in nurturing circular economy businesses and become a genuinely resource-efficient global city.”
The programme will run for three years, until December 2019.