Evaluating the Effectiveness of Sharia Business Incubation Programs: A Theoretical and Textual Analysis

Abstract

The development of sharia-compliant economic initiatives has gained momentum in recent decades, especially in Muslim-majority countries where ethical finance and Islamic entrepreneurship are increasingly prioritized. Among the tools used to foster Islamic economic growth is the inkubasi bisnis syariah or Sharia Business Incubation Program (SBIP), which integrates Islamic business values with entrepreneurial training and ecosystem development. However, while the implementation of such programs has expanded, systematic academic assessments of their effectiveness remain limited. This study aims to analyze the effectiveness of SBIP using a theoretical, normative, and textual approach grounded in Islamic economics. The objectives are to assess the foundational assumptions of SBIP, evaluate its strategic implementation, and examine its outcomes based on Islamic legal, economic, and ethical frameworks. Using qualitative textual analysis, this paper synthesizes data from classical Islamic sources, accredited Indonesian academic literature, and international economic publications. The research finds that the effectiveness of SBIPs is influenced by their ability to internalize maqāṣid al-sharī‘ah, adapt to local socio-economic realities, and offer sustainability through ethical governance mechanisms. The significance of this study lies in offering a comprehensive, religiously grounded framework for evaluating SBIPs, contributing to the scholarly discourse in Islamic economics and supporting policy development for Islamic entrepreneurial programs across the Muslim world.