New VSEs Support Program to Benefit 110,000 Small Businesses in Morocco
Doha – Morocco's government will soon launch a new program dedicated to supporting very small enterprises (VSEs). The announcement came Thursday in Casablanca from Younes Sekkouri, Minister of Economic Inclusion, Small Business, Employment and Skills.
'This new mechanism aims to support VSEs across multiple areas, such as rent, accounting, or the acquisition of professional equipment, with a target of 110,000 beneficiaries,' Sekkouri stated.
The minister was speaking at the first edition of the MSMEs (Very Small and Medium Enterprises) Forum organized by the General Confederation of Moroccan Enterprises (CGEM). The event was themed 'Inspire to Transform.'
The program will focus on financing operating expenses for VSEs, self-entrepreneurs, and entrepreneurs under the CPU regime. With a budget of MAD 1 billion ($100 million), the initiative will be implemented in the coming weeks.
Sekkouri stressed the need to strengthen leadership mechanisms, mediation, and information flow for TPMEs. He noted that some small businesses still face inappropriate responses from banking institutions due to a lack of understanding of their specific characteristics.
The minister advocated for a more efficient and responsive guarantee system. This system would quickly detect difficulties and provide committed solutions.
On financing, Sekkouri acknowledged that despite state guarantee mechanisms, many young entrepreneurs still encounter obstacles to access. A joint commission with the Ministry of Economy and Finance has been established to engage in in-depth consultation with banks.
Addressing administrative simplification, the minister flagged the urgency of reforming the commercial and administrative authorization system. He called it a brake on TPME development.
Sekkouri pushed for a transition to a model based on specifications, describing it as 'more flexible and better adapted to economic reality.' This strategic project is already underway, coordinating with several work teams to unleash entrepreneurial potential, particularly among young people.
Read also: Morocco Records 78,244 New Businesses in First 10 Months of 2024
The minister also revealed that a comprehensive overhaul of the National Agency for Employment and Skills Promotion (ANAPEC) programs is underway. This particularly targets young people without diplomas.
Regarding the new Labor Code, Sekkouri affirmed it will be finalized by year-end following a pragmatic approach in consultation with various social partners. 'This new code will, for the first time, regulate remote work and part-time work, opening new professional opportunities,' he emphasized.
The TPME Forum featured inspiring testimonials from business leaders and a panel of entrepreneurs from various sectors. They discussed real-world challenges: launch stages, daily obstacles, financing needs, team management, and digital transition.
The event also included two masterclasses. One centered around financing problems faced by TPMEs and available market solutions. The other provided tools for small businesses to respond to artificial intelligence challenges and seize opportunities.
Through this first edition of the MSMEs Forum, CGEM reaffirmed its commitment to making small businesses a central lever for wealth and job creation. MSMEs represent 95% of CGEM members across Morocco. Tags: MSMEsSmall businesses in moroccoYounes Sekkouri
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