Previous research has emphasised that entrepreneurial performance is mostly driven by strong motivation. Accordingly, understanding the motivation of waqf entrepreneurs and the challenges they face is crucial for promoting the sustainability of community welfare. Therefore, this study aims to examine determinants of waqfpreneurs’ motivation and intention to provide a more nuanced understanding of their decision-making.
A qualitative study is used by conducting semi-structured interviews with the chairmen of six prominent waqf institutions, who were waqf-based entrepreneurs in two major cities in Indonesia. All of the participants were acknowledged by the Badan Wakaf Indonesia or Indonesian Waqf Board (BWI).
Several unique driving factors are revealed as motivation for undertaking waqf entrepreneurship: self-commitment to the purpose of worshipping only Allah; self-actualisation to become a pioneer in waqf success stories; knowledge of waqf-based entrepreneurship; mandates given by the waqif (trustworthiness); and religious role models. Furthermore, the four main challenges for waqf-based entrepreneurship are discussed to raise awareness among policymakers and other stakeholders concerned with the development of such entrepreneurship.
To gain a more comprehensive understanding of the complex phenomenon of waqf-based entrepreneurship motivation, future research could expand its scope by including respondents from additional cities in Indonesia and by using a wider range of qualitative methods, such as grounded theory, ethnography or focus group discussions.
The findings of the study identify a set of key factors that could serve as valuable inputs for regulators and policymakers in formulating strategies to incentivise more entrepreneurs to engage in diverse forms of productive waqf-based entrepreneurship.
To the best of the authors’ knowledge, this research breaks new ground by delving into the motivations and challenges faced by waqf-based entrepreneurs.
