Conventional economics views entrepreneurship primarily as a factor of production for wealth maximization. However, the Holy Quran presents entrepreneurship as a holistic system (Tijarah) integrating spiritual accountability (Taqwa), risk-sharing, and social justice. This article develops a Quranic definition of Entrepreneurship Development (ED) as the process of enabling individuals to seek Allah’s bounty (Fadlillah) through lawful, mutually consensual commerce, thereby creating value for society. Focusing on Bangladesh’s Small and Medium Enterprises (SMEs), this paper argues that SME-led growth is not merely an economic necessity but a Quranic imperative. Using a mixed-method review of Islamic jurisprudence, World Bank data, and Bangladesh government policies, the article demonstrates that aligning SME development with Quranic principles of fair trade, prohibition of Riba (interest), and risk-sharing can foster inclusive, job-rich growth. The article concludes with policy recommendations for Bangladesh to re-orient its SME strategies towards an ethical, Tawhidic paradigm.