A Synergistic Model of Retail-Business Development through Sharia Micro-Finance Institution (SMFI) and Business-Incubator Units in Islamic Boarding School Sunan Drajat , Lamongan

ABSTRACT: Islamic Boarding School SunanDrajat (PPSD), institutionally and economically, is an independent institution of Islamic education due to the facts that it already has a lot of business units in the form of limited company (PT) and other business form. The re-activation of Koperasi Islamic Boarding School SunanDrajat (the Islamic Boarding School SunanDrajat Co-operative Institution-PPSDCI) in 2018 followed by its three business subsidiaries namely retail-business unit, sharia micro-finance institutions (SMFI) and businesses incubator unit has strengthen PPSD’s business grasp. This study aims to identify the existing model applied at PPSD. Also, it proposes a model synergistic of business development that can be practiced at PPSDCI. This study uses qualitative approach supported by actions research technique analysis. The results of the study showed that the development of retail-business unit, SMFI and businesses incubator unit have been synergistic developed under the pivotal roles of PPSDCI though have not been optimal due to some problems: 1) lack of human resources expert in the related field, 2) lack of micro-finance products which can potentially developed. The model proposed in this study is entitled One Service Synergistic Model which meaning that all transactions in retail-business units directly connected with a single IT system in which SMFI acts as the financial system and the business-incubator as a supervisory unit.
KEYWORDS: retail business, sharia micro-finance institutions, business incubator