A new report from the Moroccan Observatory for Very Small, Small, and Medium Enterprises (OMTPME) reveals significant developments in Morocco’s entrepreneurial landscape during the post-pandemic years.
The fifth annual report, released for 2024, offers demographic, economic, and financial analyses of “active legal entities” for 2022 and 2023. It also includes comparative data from 2017–2019 to highlight trends emerging after the COVID-19 pandemic.
The report focuses on employment trends, indicators for self-entrepreneurs, and insights from a study on women’s entrepreneurship. It notes that only 15% of businesses in Morocco are managed by women, a figure unchanged since 2020.
The report highlights ongoing gender gaps in access to bank financing. Only 14.6% of women-led businesses secure bank financing, representing 11.3% of total funding, the report said.
Declared employment increased by 5% in the post-pandemic period, compared with a 2% rise before the pandemic. This uptick suggests improved formalization of the economy, with sectors such as administrative support and transport driving job creation.
The report outlines shifts in business structures, with a growing preference for single-member limited liability companies (SARL-AU) due to simplified administrative processes. These businesses accounted for 40% of newly created companies in 2023, up from 22% in 2017.
The number of new businesses rose to 66,896 in 2023, surpassing 2019 levels, following a decline to 65,059 in 2022. However, micro-enterprises dominate this growth, making up 99% of new companies.
Bankruptcy filings reached a record high of 10,905 in 2023, up from 9,740 in 2022. The average before the pandemic was 7,400 annually. The report noted that the number would likely be higher if inactive businesses not officially dissolved were included.
Mohamed Adil Ichou, an economics professor at Beni Mellal University, noted a 20% increase in the number of businesses between 2017 and 2023, signaling an improved business environment. However, he cautioned that the growth relies heavily on very small businesses, which face resource and expertise limitations.
Small and medium-sized enterprises (SMEs) contributed 32.4% of added value in 2023, up from 31.5% in 2017, Ichou said. He added that while traditional sectors such as manufacturing, trade, and construction remain dominant, innovation is essential for diversifying Morocco’s economy and enhancing competitiveness.
The report underscores the central role of SMEs in employment, absorbing 73% of the workforce. However, the growing dominance of the tertiary sector, which accounted for 66.5% of jobs in 2023, highlights weaknesses in productive sectors like manufacturing and trade.
Women represent just 15% of business leaders, primarily in education and health sectors. Ichou called for inclusive policies, including tailored training and financing programs, to empower women economically.
The report emphasized that SMEs remain the backbone of Morocco’s economy but face challenges in financing, structuring, and innovation. Ichou urged the adoption of a national strategy to address these issues, drawing on international success stories.
“To reduce reliance on trade and agriculture, Morocco needs to expand into technology, creative industries, and renewable energy,” he said. “Leveraging research at local universities could drive innovation and create new market opportunities.”
Ichou concluded that a “balanced takeoff strategy” is key to sustainable growth, emphasizing innovation, regional development, and women’s entrepreneurship to strengthen Morocco’s regional and global standing.
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