433 businesses created this January in Morocco
In the first month of 2023, 433 new companies were established in Morocco. The majority of these are incorporated by natural persons (277). The companies are primarily involved in the construction industry, machinery manufacturing, trade, tourism, and financial services.
Additionally, there has been an increase in the number of legal companies, totaling 156. This upward trend reflects growing confidence in the Moroccan market. The data come from the Moroccan Industrial and Commercial Property Office (OMPIC) .
Drivers of growth
This growth can be attributed to several factors. Firstly, the Moroccan government has implemented programmes to stimulate economic growth, including incentivizing foreign investment, improving infrastructure, reducing bureaucracy, and modernizing labour legislation.
Secondly, the opening of the country’s borders to immigration has led to an increase in young, entrepreneurial individuals who have taken advantage of the opportunity to establish their own businesses.
Finally, new technological advances have facilitated the creation of low-cost businesses, enabling more people to become entrepreneurs.
Growing sectors
According to statistics, the commercial sector is the most significant sector in terms of its contribution to the economy, generating a large number of jobs and contributing to wealth creation. The second most important sector is construction and public works, which is crucial for infrastructure development and increasing demand for housing.
Miscellaneous services, industry, transport, hotels and restaurants, the information and communication technologies sector, agriculture and fishing, and financial activities follow, each with a relatively small share in the regional economy.
The data also reveal that the majority of businesses established in Morocco take the legal form of a single-person SARL-AU, reflecting a trend towards the creation of smaller, less capital-intensive businesses.
This reflects the preference of Moroccan entrepreneurs for the SARL-AU legal form for establishing businesses, as it limits their liability to the amount of capital they have invested and reduces the risk of being liable for debts. It is also a simpler and less costly way to establish a business.
Geographic pockets of location
The figures show that Nador is the region with the highest number of business start-ups, likely due to its geographical location near major cities such as Oujda and across the border from Algeria, making it an ideal location for entrepreneurs.
All in all, the data reflect the support of Moroccan entrepreneurs for the SARL-AU legal form and demonstrate the positive impact of government policies, immigration, and technological development on the country’s economy.
