Awareness of Islamic Business Standards and Problems Encountered by Muslim Entrepreneurs in Batangas City

Abstract

INTRODUCTION

In Batangas City, Muslim entrepreneurs in both publicly and privately owned market spaces continue to flourish. They compete with local entrepreneurs for customer loyalty and sales. in this study, the researchers intend to assess the Muslim entrepreneurs' awareness of Islamic Business Standards and the problems they encounter in conducting businesss.

METHODS

Descriptive study was used. Self-made questionnaire validated by a technical expert was administered to respondents who were selected through convenience sampling. Data were analyzed using descriptive statistics.

RESULTS

Results show the Muslim entrepreneurs' knowledge in Islamic Business Standards and the problems they encounter in conducting business. Faithfulness to the teachings of the Quran serve as a guide in managing their businesses as Islam encourages Muslim Entrepreneurs to actively participate in the trade and investment industry. However, because of the Moro problem, racism is experienced by most.

DISCUSSIONS

Results indicate that expansion of Muslim business opportunities is governed by Islam and its teachings. Stereotypes affect the local citizens' receptiveness to their business. Nevertheless, economic opportunities and business policies make them thrive in the city.