The ‘Support Fund for Very Small Enterprises’: An Alluring Promise, An Excluding Reality
The Moroccan Confederation of Very Small, Small, and Medium Enterprises (TPE-PME) believes that the new Investment Support Fund launched by the government “seems to be a theoretical opportunity rather than a real solution,” emphasizing that “the access conditions set by the authorities automatically exclude the vast majority of very small Moroccan businesses.”
According to the Confederation’s statement, “the requirement for a minimum investment of one million dirhams renders 99% of very small enterprises ineligible,” specifying that these structures “suffer from structural fragility, a lack of capitalization, and bank guarantees, preventing them from reaching the required threshold.”
The text highlights that “the official discourse accompanying the fund’s launch in Errachidia left a bitter taste among young entrepreneurs,” adding that “the Prime Minister’s comments about the ease of access to bank financing reflect a disturbing ignorance of the economic and social realities faced daily by small entrepreneurs.”
The Confederation also denounces that “the conditions imposed by banks are excessive and often disproportionate,” specifying that “the guarantees requested sometimes exceed three times the amount of the loan requested.” It also reminds us that “high interest rates and classifying TPEs as high-risk businesses undermine any intention to promote investment.”
Moreover, it warns: “If the government continues to ignore the difficulties faced by this category of entrepreneurs while favoring dialogue with large employers, it risks pushing very small businesses to express their anger in the streets, alongside other marginalized groups.”
Additionally, the Confederation raises concerns about the provisions of the 2026 Finance Bill, estimating that they “perpetuate an obvious fiscal imbalance.” It specifies that “the increase in tax on very small enterprises from 10% to 20% places them on the same level as large companies, which saw their rate reduced from 35% to 20%,” which it describes as “a clear fiscal injustice.”
The Confederation adds: “Large enterprises enjoy easy access to credit, public contracts, and real estate, along with constant government support, while TPEs struggle merely to survive and avoid bankruptcy.” It recalls that “the cessation of the Intilaka and Forsa programs has only worsened the situation.”
“Recent government decisions threaten the country’s economic and social stability,” warns the Confederation, reminding us that “over 40,000 businesses went bankrupt in 2024, 99% of which were very small enterprises,” and that “the figure could exceed 50,000 in 2025.”
In light of this situation, the Confederation calls on the government to “acknowledge the mistakes in the design and implementation of support programs” and to “open an inclusive national dialogue with representatives of very small enterprises.” It also recommends the creation of “a public bank dedicated to TPEs, similar to the French Bpifrance experience.”
Furthermore, the Confederation proposes to “revise the access conditions for the fund to align them with the actual capacities of TPEs,” to “establish a fairer and more progressive tax system,” and to “simplify administrative procedures while ensuring transparency in the distribution of public aid.”
Finally, it concludes:
The role of TPEs in the Moroccan economy is essential: they represent a dominant part of the entrepreneurial fabric and employ the majority of the active population. By excluding them from support mechanisms, the government jeopardizes not only their survival but also the economic and social stability of Morocco.
