MSME Business Models Based on Sharia Principles

Panji Rizki Kurniawan

Authors

Panji Rizki Kurniawan Akademi Bisnis Lombok Author

Keywords:

SMEs, Sharia business models, Islamic economics, business ethics, economic empowerment

Abstract

Micro, Small, and Medium Enterprises (MSMEs) play a vital role in the Indonesian economy, yet they face complex structural challenges related to access to capital, governance, and business sustainability. This study aims to analyze and design an MSME business model grounded in Sharia values as an alternative holistic and equitable managerial framework. Using a qualitative approach based on a systematic literature review, this study examines various theories and recent empirical findings regarding Islamic economics, Sharia business ethics, and MSME governance practices. The findings indicate that integrating Sharia principles such as honesty (shidq), trustworthiness (amanah), justice (adl), and the prohibition of usury into SME business models can enhance consumer trust, strengthen partnership networks, and promote sustainable business growth. The Sharia business model constructed in this study encompasses seven key elements: value propositions based on maslahah, ethical customer segments, halal distribution channels, trustworthy customer relationships, riba-free revenue sources, key resources based on Islamic competencies, and a transparent cost structure. This study offers a conceptual contribution to the development of Sharia-based SMEs and practical implications for policies aimed at the economic empowerment of the Muslim community.

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