Entrepreneurship development

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Entreprenureship in Islam is much wider than define in conventional practice. It scopes trascend profits to falah, taufiq and jannah

Entreprenureship in Islam is much wider than define in conventional practice. It scopes trascend profits to falah, taufiq and jannah

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  • 1. Entrepreneurship Development: Opportunity & Threat. The Islamic Solution A Presentation to Muslim Community in Lagos By: Jubril Salaudeen Partner at Secure H uda Limited 2348034700331 www.securehuda.net
  • 2. Outline
    • Entrepreneurship
    • Opportunities
    • Threats
    • Islamic Finance
    • Islamic funding
    • Recommendation
    • End of Presentation
  • 3. Entrepreneurship
    • an entrepreneurial mindset can exist anywhere people are paying attention to problems while working towards solutions.
    • successful entrepreneurs are the ones who follow through on their original vision
  • 4. Islam and Entrepreneurship
    • Entrepreneurs has to have objectives and targets but these are subservient to the ultimate objective of acquiring the blessing of Allah s.w.t.
    • Halal (lawful livelihood)
    • qanaah (be pleased with one’s earnings)
    • taufik (blessings of Allah in proportion to one’s expectations)
    • sa’adah (happy) and
    • jannah (heaven
  • 5. ...cont...
    • Entrepreneurship is ( fardhu kifayah ); unless and until there is an entrepreneur in a community, the entire community is deemed to be sinful!
    • Profis are encourage in order to prosper the community through donations, taxes, zakah, sadaqah, etc
  • 6. Opportunities
    • Nigeria is a developing economy
    • Over 140 million people
    • 60-65% of the population are within 16-38 years of age
    • A major oil producing country in the world
    • No natural disaster
    • Huge potential for development
  • 7. Major opportunity Gaps
    • Plastic
    • Re-cycling ( Plastic, steel, lead, iron, electronics etc)
    • Distribution ( no established distribution platform)
    • Packaging
    • Agro-allied
    • Housing and Real estate
    • Insurance and Transportation
    • Farming and Telecommunication
  • 8. Threat
    • Poor infrastructure ( Road, rail and sanitation)
    • POWER supply
    • In-consistent govt policy
    • Access to funding is difficult
    • Multiple taxation
    • Skill gap
    • Cost of funding
  • 9. Islamic Finance
    • Relatively new or none existence to cater for the aspiration of the Muslims
    • Some (Private) community initiatives
    • Central Bank of Nigeria
    • No trained work force to cater for this initiative
    • Encourages profit sharing as against interest
  • 10. Islamic Funding
    • A few Halal outfit in Nigeria
    • Mudarabah, Musharakah, ijarah, salam and istisna
    • More Islamic Banking initiaves should be expected
    • Commercial banks with Islamic windows are also encouraged
  • 11. Recommendations
    • As Muslims we have a responsibility to contribute to National development
    • We are to create employment for Nigerians
    • We have to promote social well being
    • Start entrepreneurial incubation centres
    • Encourage partnership on the bases of honesty and fairness
    • Provide skill development and access to funding to entrepreneurs
    • Stop complaining and start acting
  • 12. End of Presentation Thank you Ma-salam.