Lived Experiences of SME Owners Implementing Sharia Principles in Business Practices
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Abstract
The integration of Sharia principles into business practices has gained significant attention in Islamic economics, particularly in small and medium-sized enterprises (SMEs). While research provides insight into the operational aspects of Sharia-compliant businesses, less is known about the lived experiences of entrepreneurs applying these principles. This study uses a phenomenological approach to explore how SME owners implement Sharia principles in their operations. In-depth interviews with 12 SME owners reveal key challenges and rewards, including the lack of standardized guidance and a strong sense of ethical responsibility, influenced by personal and community expectations. These findings contribute to the literature by offering a nuanced understanding of Sharia-compliant business practices and highlight the need for clearer frameworks for entrepreneurs.
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