Introduction:
In an effort to reduce unemployment levels, the Kingdom of Morocco pursues a policy of supporting enterprises and project financing programs, without interest or guarantees, through which support or loans can be obtained to finance start-ups, especially young people with degrees and special needs, or without much interest, and in some cases even without the need to recover it.
Because entrepreneurship support programs in Morocco represent an opportunity for young people to obtain project financing without collateral, we clarify the appropriate programs for each category, such as supporting self-entrepreneurs in Morocco, supporting small projects for the unemployed, and financing projects for young project holders.
Types of Project Finance in Morocco
Most young Moroccans tend to establish their own projects and businesses, and often the owners of these projects, especially beginners, face financial problems in order to establish and develop their projects, so it is necessary to have an idea of the appropriate project financing programs for them.
After exhausting self-financing methods or relying on relatives and friends, the startup entrepreneur needs to know what is available from project financing programs and business support programs in Morocco, in order to be able to obtain the financial resources that he desperately needs.
The following are the most important types of project financing in the Kingdom of Morocco:
Project Support Programs:
The economic policy in Morocco provides many programs to support startups in the Kingdom of Morocco, without the need to think about repayment, and is considered one of the best types of project financing in the Morocco, but it is limited to certain areas and circumstances, the most important of which are:
Self-Contractor Support Program: After obtaining the self-contractor card, the self-contractor can benefit from a check of 2000 dirhams for training in the field of work and 10 thousand dirhams in order to help run the individual contract, and ANAPEC bears the accountant's fees (1000) thousand dirhams per year, and support the rental of the shop: 50% of the expenses of renting the shop within (10,000) ten thousand dirhams per year, and you can visit the site from the website link.
Small and Medium Enterprises Support Program (MAROC PME): This program supports small and medium enterprises in some developmental areas, i.e. areas that still need more development, such as tourism, some traditional industries and even e-commerce, and this program provides funding as well as training in the field of managing the saying, and you can visit the site from the site link.
Project Support Program National Initiative for Human Development: Human Initiative financing is one of the best types of project financing in the Morocco, and one of the conditions for financing small projects is that the project holder is between 18 and 35 years old and that the project is in the emerging or newly existing stage, and the amount of financing ranges between 100,000 and 300,000 dirhams.
Free Loan Project Financing Programs
Program to support entrepreneurs with disabilities: This program aims to support people with disabilities, in order to establish income-generating projects and achieve financial stability, and this support ranges from a maximum of 60.000 dirhams for individual projects, and 200.000 dirhams for collective projects.
Direct support program for farmers: This program is based on providing direct support to small and large farmers, in order to acquire equipment and materials necessary for agricultural activities, and this program is supervised by the National Agency for the Development of Agriculture and you can visit the official website link site.
Economic integration programs through the Fifth Mohamed Foundation for Solidarity: The Fifth Mohamed Foundation for Solidarity oversees the achievement of economic integration through free small enterprise support programs such as supporting small projects for women in Morocco, financing youth projects in Morocco, and supporting young project holders and vocational training graduates.
In addition to this package of support through free project financing, it is also possible to obtain a loan to finance the personal project or the so-called honorary loans, which are interest-free loans, and the following are the most important interest-free project financing programs:
Forsa program to support projects through interest-free loans: This program was launched in order to facilitate the access of project owners to the material resources required by their projects, provided that they are achievable, and "Forsa" grants interest-free loans within the limits of 100,000 dirhams, including 10,000 dirhams as a grant, in addition to the possibility of providing support and supervision, and you can visit the institution's website from the website link.
Initiative Program for Urban Development: This program is considered among the best types of project financing in the Morocco and this program is supervised by the employment of the city in which the entrepreneur resides, so that there is the Agadir Initiative, the Casablanca Initiative and other Moroccan cities....
Project support programs through interest loans.
Among the types of project financing in Morocco 2024, there are project support programs through interest loans 2024, which are given to entrepreneurs who seek to develop or establish their personal projects, and the biggest obstacle to them is finding financial resources, the most important of which are as follows:
Interest-bearing bank loans such as "Intilaaqah Program 2024": The "Intilaaqah Program 2024" is considered the best type of bank loans with interest, so that the interest rate does not exceed 2% and does not require the provision of guarantees except for the readiness of the project.
Participation bank loans: Participation bank loans do not depend on interest, but on murabaha, meaning that these banks are charged with purchasing the goods and equipment necessary for the project and reselling them to the project owner, separated by a margin of profit in the form of loans.
How do I get funding for my project in Morocco?
It is very important to avoid external funding for entrepreneurs and rely on self-financing in the establishment and development of their personal start-ups. When external financial resources are necessary to support the personal project, the best ways to ensure access to youth finance in Morocco 2024 is:
The idea of the project should be strong and good and have a high success potential: Because one of the conditions for financing small and medium enterprises is that the possibility of success is large and high and that the project owner is familiar with the field of the project, which is clear when presenting the project to the entity that will finance it.
Here, it should be noted that the most important reason why youth project support institutions reject some support requests is that the idea of the project is either unconvincing or low-yielding, and perhaps a means to obtain funding only, whether it is a loan or support, which is the end in itself and not the success of the emerging project.
While the owners of projects with great opportunities for success tend to avoid as much as possible external financing, especially obtaining a loan for the purpose of financing a startup, to remain as an option and a way to overcome financial obstacles only.
The following is a sample of how to obtain self-entrepreneur support in the Kingdom of Morocco:
Obtaining a self-contractor card.
Preparing a carefully studied project plan
Go to the funding agency and prepare the application file according to the required procedures, which differ from one program to another.
If possible, you should try to launch and run the project until you get support.
Use of ANAPEC services, which are free of charge for consultation and project study.
The best financing methods for micro-projects under construction
For those wishing to know how to obtain financing for microenterprises in the process of being established now, in principle, those looking for external financing should avoid loans as much as possible because they may contribute to the financial exhaustion of entrepreneurs and may be the cause of the failure of the project. Therefore, the best financing for the entrepreneur is to seek to benefit from small enterprise support programs for free, which do not require the recovery of the provided funds as previously mentioned.
However, these funds are limited to certain areas such as agriculture and people in special situations, such as supporting small projects for women in Morocco in rural areas and supporting young entrepreneurs or people with special needs. In the event that the necessary conditions are not met to benefit from the project support programs free of charge or the financing is insufficient to cover the financial resources needed by the project, honorary loans or loans that do not require interest payment can be resorted to.
Interest-free project financing programs usually require certain conditions to be met or are specific to certain groups, such as artisans or areas that countries aim to develop. In the event that the conditions for benefiting from the microfinance programs are not met without interest Morocco the choice between project support programs through interest-bearing loans is in favor of the Intilaaqah 2024 program, in which the interest does not exceed 2% instead of 4 or 5% previously.
Conclusion
It is good to understand the options available in the entrepreneurship support programs in the Kingdom of Morocco for the year 2024 and how to obtain interest-free microfinance and support for small projects free of charge for project holders, and the goal is to have a good idea of what suits every ambitious young person, to establish his own business, and achieve financial independence.