Several accounts have indicated that Islam is the world’s second largest religion. It is a religion being practised almost everywhere in the universe. Available statistics shows that the religion has over one billion adherents, representing 23% of the global population. This percent is expected to reach 26.4% or 2.3 billion of the world’s population by 2030. When Prophet Muhammad (Peace Be Upon Him) was asked what type of earning was best, he replied: “A man’s work with his hands and every (lawful) business transaction” (Al-Tirmidhi). In this book, I examine entrepreneurship within the Muslim global community, and Nigeria in paprticular.
From all indications, there is no excuse for Muslims not to involve in entrepreneurship. But, as exemplified by the group of Muslims who participated in a study that facilitates the writing of this book, it is obvious that there are challenges impeding Muslims from taking the entrepreneurial journey as encouraged by the Holy Book and Prophet Muhammad (Peace Be Upon Him). I also learnt that they have some factors helping them to believe in taking the journey. Insights from the study reveal that Muslims, like adherents of other religions in Nigeria, are finding it difficult to discover sustainable opportunities and exploring them to their advantage. Based on the insights, I make a case for Enterprising Muslims (EM). By EM, I expect individual Muslim and Islamic organisations to draw from the principles regarding attitude towards business, experiences and risks taking, and Islamic organisations or movements’ roles in entrepreneurial growth in their localities and Nigeria in particular.
Table of Contents
- Introduction – Islam, Muslims and the Rest of the World
- 1.1 – Facilitating and Impeding Conditions
- 1.2 – Potential Risks and Possible Mitigation Strategies
- 2.1 – Taking the Leap: How to Walk Muslims through Business Creation
- 3.1 – Strategic Options