From wine to circular vines via bcorp certification: an exploratory analysis of Italian SMEs

This study aims to explore how Benefit Corporation (BCorp) certification can guide low-tech hybrid-purpose SMEs in embodying Circular Economy principles. It addresses the following research question: is BCorp certification an appropriate tool for facilitating the integration of Circular Economy principles at the core of SMEs, leading to a better balance between social and economic purposes?. To address the aforementioned research question, this research employs a comparative multiple analysis approach focused on six Italian wine BCorps. This qualitative approach allows for an in-depth exploration of entrepreneurial and circular transformative paths of selected companies, boosted by the requirements of the certification scheme. The findings highlight the practices and initiatives that influence and guide the potential circularity of the selected companies, by assessing the efficacy of BCorp certification in facilitating the integration of Circular Economy principles. The exploratory nature of this study is also its main limitation, restricting the generalizability of results. The findings are also heavily context-dependent, requiring further investigation in other industries and countries. However, these limitations do provide a platform for future research. The present study does also offer some practical implications. Managers of hybrid-purpose organizations could benefit from a categorization of practices and initiatives that allow BCorps to pursue a dual profit-purpose goal with Circular Economy principles while fostering the effective implementation of business models for Circular Economy.