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Join on Telegram Rabat – A staggering 93,517 businesses were created in Morocco by the end of 2023, according to data from the Moroccan Office of Industrial and Commercial Property (OMPIC).
The newly formed enterprises comprise 4,027 registered as legal entities and 29,490 as sole proprietors.
The commerce sector had a strong presence with a commanding share of 35.85%, followed closely by a myriad of services at 18.57%.
The Construction and Public Works (BTP) sector, along with real estate activities, collectively account for 17.46% of the total.
Regionally, Casablanca-Settat emerges yet again as the epicenter of entrepreneurial activity, holding a substantial 26,900 of the newly established businesses. Other prominent regions include Tangier-Tetouan-Al Hoceima, Rabat-Sale-Kenitra, Marrakech-Safi, and Fez-Meknes.
Regarding the most prevalent legal structures, the Single-Member Limited Liability Company (SARL AU) is the most favored legal form, making up 64.3% of the total, followed by the Limited Liability Company (SARL) at 35.1%, and the Joint Stock Companies (SA) making up a minor 0.3%.
The number of new companies created at the end of the first five months of 2023 is especially impressive given that in 2022, a total of 93,272 new companies debuted in Morocco.
In recent years, entrepreneurial activities in Morocco received a massive boost from state programs aiming to support youth-led enterprises.
The upward trend of business creation was especially strong in 2021, when the year-on-year growth rate of business creation averaged 52%, making Morocco the fastest-growing market for entrepreneurial activities in the Maghreb region.
Read Also: Morocco Holds 70% of Businesses Created in Maghreb Countries in 2021
