As we step into 2024, the business landscape continues to evolve, and new opportunities are emerging. However, not all business ideas are ethical or legal. In this article, we will highlight three HARAM business ideas that entrepreneurs should avoid in 2024.
1. Cryptocurrency Scams: The rise of cryptocurrency has opened new avenues for investment and entrepreneurship. However, it has also attracted unscrupulous individuals looking to scam unsuspecting investors. In 2024, we are likely to see an increase in cryptocurrency scams, including fraudulent initial coin offerings (ICOs), Ponzi schemes, and fake investment platforms. These scams not only defraud investors of their hard-earned money but also tarnish the reputation of the entire cryptocurrency industry. Entrepreneurs should steer clear of any business idea that involves misleading or defrauding investors in the name of cryptocurrency.
2. Misleading Health and Wellness Products: With the growing emphasis on health and wellness, there is a surge in demand for products and services that promise to improve one’s well-being. However, some businesses take advantage of this trend by selling misleading or ineffective health and wellness products. In 2024, we expect to see a proliferation of businesses offering miracle supplements, trendy diets, and questionable medical devices that make unsubstantiated claims about their benefits. Entrepreneurs should be wary of getting involved in any business that preys on people’s health concerns by peddling products that lack scientific evidence or regulatory approval.
3. Exploitative Multi-Level Marketing (MLM) Schemes: Multi-level marketing (MLM) has long been a controversial business model, and in 2024, we anticipate a rise in exploitative MLM schemes. These schemes often promise easy riches and financial freedom but end up exploiting participants through deceptive recruitment practices and unrealistic earning potential. In many cases, participants are left with unsold products and a heavy financial burden. Entrepreneurs should be cautious about getting involved in any business that relies on recruiting a downline and offers lucrative rewards for recruitment rather than actual product sales.
In conclusion, as entrepreneurs navigate the business landscape in 2024, it is crucial to be mindful of ethical considerations and legal compliance. The three HARAM business ideas highlighted in this article – cryptocurrency scams, misleading health and wellness products, and exploitative MLM schemes – should be avoided at all costs. Instead, entrepreneurs should focus on building businesses that prioritize transparency, integrity, and genuine value creation for their customers and community. By choosing ethical and legal business ideas, entrepreneurs can contribute to a more sustainable and responsible business environment in 2024 and beyond.
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So basically buying stuff upfront from company in China and then selling this is halal, and any delayed payment is haram?
Man i dont think forex is HARAM much muslim people do prop firms
Is dropshipping really haram
Would you make a video about services like ghostwriting?
It would be helpful
We are on a similar wavelength.
I addressed the prop firm issue with top prop firm traders, including someone on YOUTUBE who is muslim, in Dubai that has his OWN prop firm.
I have seen that it permissable to drop ship… my understanding is that you cant sell somethimg that you dont own i.e i cant promise to sell you something that i have no right to, i cant sell yoir car to someone because i dont have the rights to do that… but with dropshipping i do have the right to sell the item because my supplier has allowed me to sell his product….. i personally think many modern scholars are not good at evaluating certain rulings and applying to this modern age….
A/w/w what about buying halal stocks long term not prop firms and spread betting.
JakhAllah Khair, can you please make a video on how to do halal trading
Business idea 1. Forex Trading
Business idea 2. Drop shipping
Business idea 3. Social Media Marketing
Salam brother you said propfirm is haram but if i have my own money and trade using broker yg make money from there still haram or not ? I hope you understand what im say and answers my questions tq