The Financial Express

Mooting the idea of welfare business

Mooting the idea of welfare business

There are thousands of people who would like to do business in the society but they can't do it due to a shortage of capital. Besides, some have started co-operative and partnership business but cannot achieve success due to corruption. Some are telling about interest-free business but charging interest in any other name and thus losing the confidence of the people within a short time. Thousands of such wrong decisions make businessmen unsuccessful. Besides, some earn money in the name of business but get lost from the world soon after death.

In view of the above things and many more, wealth and welfare business can provide a way out. That means earning profit through creating utility of goods and services where interest is prohibited and then a portion of income is distributed among the poor in the form of Zakath or CSR (corporate social responsibility). The workers also get wages in accordance with business income and at last the entrepreneurs also take profit. This is what is clearly explained in the book titled 'Wealth and Welfare Business' by Md Mashiur Rahman.

The book states that wealth and welfare business can be ensured by following the seven principles below:

  1. The entrepreneur will be skilled and honest and business to be interest-free.
  2. Business will be run keeping the welfare of human beings in the mind.
  3. Single or more than a single entrepreneur can be there and they will sit on the Board of Directors and take the business responsibility. The responsibility can be limited by capital. The profit can be taken at last.
  4. There will be a special kind of general investor(s) who will not take loss but they can get profit at the rate of zero (0) to infinitive as per contract. This type of investors cannot sit on the board of directors.
  5. Labourers will get comparatively high wages in consideration of business income.
  6. A portion of income will be distributed among the poor as Zakath or CSR.
  7. In the wealth and welfare business, tax will be provided for the government and nation-building.

Considering the uneven distribution of assets with a view to building a richer, happy and peaceful society, a business model has been developed here. The model is developed at the five levels as follows:

  1. Present business and their problem.
  2. Necessity of wealth and welfare business.
  3. Explanation of wealth and welfare business model
  4. Benefits of wealth and welfare business.
  5. Limitation of wealth and welfare business

Under the explanation of wealth and welfare business model, it is said that

(1) Entrepreneur - to be skilled and honest that will ultimately help create efficiency and help in a business model.

(2) Prohibition of unhealthy business -that will create affection of general people, human welfare and increase of goodwill where ultimate objective is business development.

(3) Collection of Capital - for collection of capital, transparency and trust have to be maintained that will help create bravery attitude and help collect the required capital. Ultimately business development will then happen.

(4) Interest-free business - This will help create a tension-free entrepreneur as interest is a confirmed expenditure but business profit is uncertain. Ultimately business development will then happen.

(5) Justified wages and good attitude - This will create affection of the labour for the business organisation and the labour will work affectionately. Ultimately business development will happen.

(6) CSR as Zakath - This will increase consumption of poor, create human welfare as well as affection and love. Ultimately business development will happen.

(7) Providing tax to the government - This will make an entrepreneur responsible to the country, welfare of country and creation of goodwill. Ultimately then the business development will happen.

The limitation of the book is that it cannot help the non-believer and clever people doing business.


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