This Business Guide aims to help companies in developing strategies to respond to challenges of water availability by implementing circular water management practices. Companies may be at the beginning of their water management journey or may already have a water management strategy in place. In either case, this Business Guide suggests ways to overcome common barriers encountered in framing or implementing a strategy for circular water management, focusing on the reduce, reuse and recycle steps in the 5Rs approach (reduce, reuse, recycle, restore and recover water resources). The practical advice on raising awareness and supporting dialogue aims to help companies engage stakeholders. Guidance on developing a solid business case for reducing water use, reusing or recycling water aims to help companies ensure an acceptable return on investment by taking account of the true cost of water, and to help them comply with regulations on water intake and discharge. The overview of practical tools, methodologies, 2 examples and insights, draw on experiences in responding to risks. The case studies on reducing water use, reusing, recycling, restoring water reserves and recovering valuable resources from wastewater identify opportunities. Best practices drawn from these case studies and the distillation of key success factors show ways to overcome barriers.