Entrepreneurship in solid waste management can be instrumental in environment protection, decentralization, economic restructuring and job creation. Entrepreneurial opportunities in solid waste planning are available in the areas of waste collection, waste handling, waste sorting, waste storage, waste transport, waste transformation and energy recovery from waste.
Entrepreneurship begins with the generation of an idea and culminates in realization of the project objectives. Historically, the improvement of waste management services by the public sector has been hampered by lack of funds in both developed and developing nations.
Entrepreneurs can not only invest money in solid waste management sector, but also infuse new ideas, technologies and skills which can transform waste from being a liability into an asset. The efficiency of solid waste management increases with the involvement of entrepreneurs. Infact, it has been observed that involvement of entrepreneurs in solid waste management planning can reduce the service cost by half in Latin American cities with higher employment generation and vehicles productivity.
Entrepreneurial ventures in solid waste management can range from a one-man project to a mega-scale project involving thousands of skilled and unskilled workers. It has been observed that solid waste management is a labour-intensive process with tremendous potential to generate new jobs, depending on the type of project and the level of creativity. The major areas of entrepreneurial involvement include waste collection, transportation, reuse and recycling, upcycling and power generation.
According to the World Bank, municipalities in developing countries typically spend 20 to 50 per cent of their annual budget on solid waste management, but only 40 to 70 per cent of solid waste is collected and less than 50 per cent of the population has access to municipal waste collection services.
Solid waste planning is an integral component of urban development as it contributes to public health, resource conservation and environment protection. Scientific disposal of domestic waste can prevent environmental degradation and harmful public health impacts while recycling can help in conservation of precious natural resources and energy.
Entrepreneurial activities in solid waste collection can not only increase waste collection efficiency but also improve waste management services for the marginalized sections of the society. An excellent example is the case of Nigeria-based Wecyclers which is aiming to building a low-cost waste collection infrastructure in Lagos by offering cheap and convenient domestic waste recycling services using a fleet of cargo bikes.