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Economy

Morocco's Entrepreneurial Surge: OMPIC Reports Nearly 25,000 New Businesses in Q1 2024

Friday 07 June 2024 - 14:50

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In a testament to the Kingdom's thriving entrepreneurial ecosystem, the Moroccan Office for Industrial and Commercial Property (OMPIC) has unveiled remarkable statistics showcasing the nation's vibrant business landscape. According to OMPIC's comprehensive dashboard report on enterprise creation, a staggering 24,896 new businesses were established during the first three months of 2024 alone.

This impressive figure encompasses both legal entities (17,948) and sole proprietorships (6,948), reflecting the diverse entrepreneurial aspirations and initiatives across the country.

OMPIC's sectoral breakdown unveils a distinct pattern, with the commercial sector leading the charge, accounting for a substantial 35.06% of the newly formed enterprises. Closely trailing is the construction and real estate sector, encompassing both building and public works (BTP) and real estate activities, with a combined share of 18.85%. Services (18.81%), transportation (8.22%), industries (7.32%), hotels and restaurants (5.55%), information and communication technologies (ICT) (2.66%), financial activities (1.96%), and agriculture and fishing (1.58%) complete the diverse range of sectors embraced by Morocco's entrepreneurial spirit.

When analyzed through a regional lens, the Casablanca-Settat region emerges as the undisputed leader, boasting the establishment of 7,599 new enterprises by the end of March. Tanger-Tétouan-Al Hoceima (3,768), Rabat-Salé-Kénitra (2,915), Marrakech-Safi (2,813), Fès-Meknès (1,738), Souss-Massa (1,647), Oriental (1,499), Laâyoune-Sakia El Hamra (995), Béni Mellal-Khénifra (737), Drâa-Tafilalet (600), Dakhla-Oued Ed-Dahab (398), and Guelmim-Oued Noun (187) round out the regional distribution, each contributing to the nation's entrepreneurial tapestry.

Delving into the legal structures embraced by these newly formed enterprises, the single-member limited liability company (SARL AU) emerges as the most popular choice, accounting for a staggering 65.6% of the total. The traditional limited liability company (SARL) follows closely with a 33.8% share, while the joint-stock company (SA) represents a modest 0.2% of the newly established businesses.

These figures not only reflect the dynamism and resilience of Morocco's entrepreneurial spirit but also underscore the government's ongoing efforts to foster an enabling environment for business formation and economic growth. With a diverse range of sectors and regions contributing to this surge, the nation's entrepreneurial landscape is poised to continue its upward trajectory, fueling innovation, job creation, and economic prosperity across the Kingdom.

As Morocco continues to navigate the ever-evolving global economic landscape, the sustained influx of new enterprises serves as a testament to the country's unwavering commitment to nurturing an ecosystem that supports and encourages entrepreneurial endeavors, ultimately positioning the nation as a formidable force in the realm of business and innovation.