4 Myths that hinder entrepreneurship in Morocco

In Morocco, we don’t have, strictly speaking, an entrepreneurial culture; as a result, our entrepreneurs often lack experience, standards, and successful examples.

During conferences and workshops I have given at several higher education establishments around the country, I have met a large number of passionate students who dream of launching their own startups but fear failure. They doubt their managerial capabilities, or simply set unrealistic goals. I’ve found that very often their motivation is undermined by four misconceptions about the early stages of a company.

Find below the truth about these four myths hindering entrepreneurship in Morocco.

Myth #1: You need a lot of money to launch your business.

The first question asked by a lot of future entrepreneurs is financial: how much do I need to start?

Technically, to get a ‘negative certificate’ (a document from the Commercial Register’s Central Registration Service certifying that no other company in Morocco has the same name as the one you have chosen), then you have to choose the type of company you want (SARL, SA etc.), legalize the documents, purchase administrative stamps that will in turn pay for administrative demands, and, the help of a lawyer or notary, if you feel it necessary.

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4 Myths that hinder entrepreneurship in Morocco