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Data: As of my last update in 2021, there were approximately 1.8 billion Muslims worldwide, making up about 24% of the global population. This number is projected to increase in the coming decades.
Implication: With such a large and growing demographic, the potential for Muslim entrepreneurs to influence the global market is substantial. GMEN can be the platform that unites these entrepreneurs, amplifying their collective impact.
Data: The global halal market, encompassing food, fashion, finance, and more, was valued at over $2.5 trillion in 2020 and is expected to grow annually.
Implication: GMEN can provide a network for entrepreneurs to tap into this expanding market, offering insights, partnerships, and resources specific to the halal industry.
Data: The Islamic finance industry, with its unique ethical and Shariah-compliant financial instruments, exceeded $2 trillion in assets globally by 2020.
Implication: By offering guidance, resources, and connections in the realm of Islamic finance, GMEN can help entrepreneurs navigate this distinct financial landscape, aligning their businesses with their faith.
Data: Specific data points can vary by region and study, but many Muslim entrepreneurs face unique challenges, from understanding Shariah-compliant business practices to navigating stereotypes and biases in certain markets.
Implication: GMEN can offer a supportive environment, mentorship, and resources to help entrepreneurs overcome these challenges and thrive in the global marketplace.
Data: Many Muslim-majority countries fall within the emerging market category. Thegrowth potentialh is significant, with countries like Indonesia, Turkey, and Malaysia showing considerable economic development.
Implication: By connecting entrepreneurs from these countries with a global network, GMEN can catalyze further economic growth, foster collaborations, and facilitate knowledge transfer.
Data: Ethical consumerism is on the rise globally, with more consumers making purchase decisions based on a company’s social and environmental impact.
Implication: Islam promotes ethical business practices, transparency, and fairness. GMEN can champion these values, positioning Muslim entrepreneurs at the forefront of ethical business and aligning with global consumer trends.