In China, Japan and Europe circular economy concepts are being adopted as a mechanism for utilising resources to support long term economic, social and environmental benefit. Australia’s unique economic environment will affect the way circular economy concepts are implemented to build responsible prosperity. To date, the circular economy concept is yet to achieve a transformative effect and a new local narrative is needed to promote the benefits in the context of the current economic circumstances, as an extractive economy. Based on a review of international initiatives and discussion with stakeholders, the key enabling factors for progressing circular economy in Australia have been prioritised. Awareness raising and building networks were identified as most achievable to create change in the short-term and strong policies including regulations and targets, alongside innovation in business models, were identified as having the most impact. A coordinated and collaborative effort across all sectors and stakeholders will be required to successfully progress circular economy in Australia.