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The term “Circular Economy” gains ground currently not only among large companies but also among small and medium-sized enterprises (SMEs). Suitable metrics are required to address circular economy effects in the product design process or for communication purposes towards consumers and clients. Simplified Life Cycle Assessment (LCA) calculations can help to quantify environmental effects throughout a product’s life cycle, to educate consumers and clients and to communicate business strategies. More than 120 SMEs from a range of industrial sectors received mentoring on simplified LCAs. Experiences from this interaction with SMEs are an invaluable source of insights into the current status of implementing circular economy approaches among small European companies. The paper analyzes the LCA requirements among companies from the electronics sector, including the various perspectives of product manufacturers, suppliers, and information technology refurbishing companies, given the limitations among these companies regarding environmental know-how, influence on supply chains, and resources to engage in LCAs. The experiences of the SMEs are illustrated on the example of three case studies. Drivers and barriers for using Key Environmental Performance Indicators are analyzed.