One morning, a decision is made: entrepreneurship, here I come! The idea has been brewing in the mind for some time now…

Introspection and metaphysical reflections? Forget it!

Discouraging finances? We’ll see how it goes!

A hesitant circle? Not at all!

Ultimately, nothing can deter this visceral desire to create. A kind of intuition that drives one to throw themselves into the uncertain labyrinth of business, to take a chance, and perhaps patiently carve out a place in the sun here in our beautiful Morocco, brimming with opportunities.

But before slamming the door on your employer and rushing straight to the nearest CRI*, know that the path ahead is no walk in the park. Ascending requires a level head, strong nerves, and a good dose of “ridat lwalidine” (perseverance). No need to panic! Good preparation and some professional guidance will be your best allies. Here are the main guidelines, according to our experts:

You shall work on the idea:

It’s obvious, taking the time to refine your idea significantly increases the chances of success and longevity of your venture. A brilliant idea is great, but monetizing it correctly is even better. Consider every angle to identify the best approach, to bet on the right horse: the winning business model. For this, nothing beats… benchmarking: an age-old yet equally effective technique. Compare to reign better, draw inspiration from experiences, and avoid the mistakes of your fellow entrepreneurs, as far as information is available (not easy in Morocco, we agree).

Online research, field observation, input from acquaintances, or professional consultations – it’s important to surround yourself with support to refine this seedling, to work on it, and make it robust from all sides. Professional services and expert firms assist you in this regard, enabling an immediate immersion in your own venture, by aiding in the execution of relevant feasibility studies and drafting a solid business plan.

Beware of the legal:

In the beginning, there was the negative certificate. Your baby has a name? Excellent, it just needs the attention of its “parents.” At this stage, the role of each associate (if applicable) is crucial. Which legal structure to choose? What are the limits of each person’s involvement? Who signs what? And how does one share the eagerly awaited profits, or simply disengage if one changes their mind? These are questions that must absolutely be submitted to a recognized professional, lest you find yourself trapped in dead ends made of poorly drafted legal documents. Avoid disputes and unnecessary legal fees, and your project will thrive.

Consider the financing:

Entrepreneurship is, above all, about investing. Give to receive. The paradox is sometimes bewildering, but it’s the essence of any successful project. It’s true that this stage, often the most pragmatic, usually discourages many, for good reason. Despite a plethora of media campaigns advocating for business creation in Morocco, the reality often proves otherwise, and seeking financing often feels like performing the 7 labors of Hercules. Banks, the main reservoirs of ample liquidity, are particularly risk-averse, despite coverages that would make international prudential standards envious. Investment funds, offering aid, subsidies, and honor loans, are keen on innovative projects, but navigating through them remains challenging, requiring administrative document compilations that can weigh you down. Even with sufficient equity, professional assistance is often welcome*, to optimize the financial structure and maximize returns.

You shall endure lean times:

There it is! My company lives! My products/services are available, and I’m ready to conquer mountains and forests of loyal and grateful customers. Good luck. Let’s not forget, the company is in its infancy and must, before its order books are saturated (which is what we all hope for!), prove itself to its target audience. Meanwhile, tighten your belt because for the vast majority of starting entrepreneurs, the bank account isn’t their strongest suit. It’s generally drained to the last penny to establish the striking force necessary for the success of the business. The only recommendation: prepare for tough months, both professionally and personally. This involves implementing stricter financial discipline and adopting a positive attitude in this regard. Step back to move forward: that should be the motto for you and your close circle.

Cherish communication:

No matter what products/services you offer, an entrepreneur must make them known. It’s about finding the right mix of available means, which are abundant in Morocco. Between participating in specialized events, traditional advertising purchases, and engaging digital influencer services, don’t skimp on commercial efforts. Remember that no matter how revolutionary the product(s)/service(s) you offer, the market is impatient, tough, and boasts a very short memory. Continuously feeding the collective memory sets all odds in your favor.

Secure the treasury:

Have you planned for sufficient working capital? Bravo. However, don’t forget that in Morocco, nearly one in four businesses shut their doors due to payment delays. So, plan for more than deemed necessary. If the funds don’t allow it (often the case), opt for a soft launch, with reduced operating expenses and a progressive development plan, to secure a suitable period for fine-tuning. This will always be better than going all out from the start and risking losing everything at once.

Ensure follow-up:

Running a business is like riding a bicycle: it’s often intuitive until you take a fall! To avoid wasting time and money, both extremely precious at this stage, seek specialized skills to delegate administrative, fiscal, social, and accounting follow-up. While the cost may seem heavy initially, they remain vital and highly profitable! Restrain your enthusiasm as a multitasking entrepreneur and forget the idea of hiring a single employee to do everything. That will only lead you to rework or unpleasant surprises in the form of penalties or fiscal/social fines. Solution: focus on your core business and entrust the rest to specialized teams.

Seek advice from our team of experts to ensure the launch of your business

*Regional Investment Center