13.07.2022 | Bh Adviser | Morocco
The 6 Reasons Why Morocco is a Great Place to Start Your Business
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Today, Morocco is a country that has grown rapidly economically in recent years and this has been led by the support of the government.
The low cost of doing business, the existence of professional skills, the availability of
professional services and the fact that it is an international center for entrepreneurship and a place where many people want to start a business.
The great economic opportunities for entrepreneurs are available in the country.
These are just some of the most common reasons why people choose Morocco:
The Government's Support
The Moroccan government offers significant support to new entrepreneurs by providing them with training and mentoring programs. This helps make starting a new business in Morocco much easier than in other countries.
The Moroccan government also provides tax benefits to new businesses that create jobs or invest in innovation and technology.
The low costs of doing business in Morocco can be attributed to the country’s relatively low labor costs and low taxes on businesses.
In addition, Morocco offers access to some of the lowest-priced office spaces in North Africa.
Finally, there are plenty of professional services available,including administrative services, engineering, and construction services, health care, and technical assistance ,to meet the needs of Moroccan businesses.
Though Morocco has a relatively well-developed infrastructure, including high-speed internet access and advanced cellular networks, there are few options for international direct dialing or international email.
Low Cost of Doing Business
Morocco is one of the most promising emerging markets in Africa and the Middle East.
The government has taken many measures to improve the country’s competitiveness by cutting down red tape, improving infrastructure, and supporting entrepreneurs with tax breaks.
The low cost of doing business in Morocco makes it a strong competitor for other countries like Egypt and Jordan when it comes to starting a new venture.
Services such as accounting, legal advice, and marketing are all available at affordable prices which makes it easier to start a new business.
Low cost of living
Moroccan cities offer low rates of rent and yet offer high-quality services, which makes this an advantageous option for those who want to save up money while they work on their businesses.
Great business opportunities
the country is full of opportunities that can be very appealing for those who are starting their own business.
The regulations in the country make it possible for foreigners to have
companies in Morocco that employ locals and vice versa, which can give rise to partnerships between businesses. The environment is also very favorable to entrepreneurs since it has plenty of growth sectors and a very strong entrepreneurial ecosystem.
The availability of professional services
In fact, Morocco is a very professional country with many important services.
Today, with a population of 40 million inhabitants, Morocco is a host to many different manufacturing industries and has a relatively large economy in the region.
The building sector, in particular, is one of the largest contributors to the GDP.
International hub for entrepreneurs and startups
The Moroccan Economic Zone Authority (MEZA) offers incentives for starting and operating a company in the region of Casablanca, such as tax and customs exemptions, reduced working hours, residency permits for the investor’s family members, and free access to electricity.
Companies that want to either participate in MEZAN’s programs or operate on their own can apply for funding from the National Investment Fund of Morocco (FNP).
If you want even more than these two options offer you might want to consider opening up your company in one of MEZAN’s free zones.
Morocco is a very attractive country for investors. It is also an emerging market since it has the advantage of being located in the center of three regions: Africa, Europe, and the Middle East.
The level of education in Morocco has been continuously rising, with more than 75% of its population completing tertiary education (ISCED 2011).
Higher levels of human capital are the key reason for its fast growth.
Morocco enjoys a favorable business climate and a favorable regulatory environment for doing business in Moroccan marketplaces
The culture is diverse, with an Arabic and Berber substratum that has been heavily influenced by France and Spain.
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