A recent report by Bayt.com, the MENA region’s leading job-seeking platform, has found that 63% of Moroccan respondents want to be self-employed while 28% seek employment in a company.
Titled “Entrepreneurship in MENA Survey,” the report surveyed 155 respondents from Morocco and found a high general interest in entrepreneurship among Moroccans aspiring to be self-employed and even those seeking employment in a company.
The report found that Moroccans seeking employment in a company are driven by job security (44%), regular income (42%), benefits and perks (social security and medical insurance) (37%), and the will to acquire new skills (35%).
While working for the public or private sector brings stability to the employees, the lack of financial resources (33%) or appropriate idea (12%) to start their own business as well as the difficulty of business -creation regulations (14%) are additional reasons pushing Moroccans away from entrepreneurship, Bayt.com said.
Despite these difficulties, 77% of the regional survey’s Moroccan respondents said that they are currently thinking of starting their own businesses while 10% of them tried so in the past.
The self-employment status is highly rated among Moroccans, with 60% of Moroccan respondents arguing that “anytime” is the best time to start a business.
56% said the status brings them a sense of pride and fulfillment, 42% said it allows them to choose their work -life balance, and 33% argued the coveted status enables them to achieve higher monetary gains (33%) while maintaining their freedom to choose what to work on and who to work with.
Still, the lack of finance to start the business, the fear of hiring the wrong people, and the lack of mentorship and the “right” contacts are believed to be the top concerns of aspirin Moroccan entrepreneurs.
As 53% of surveyed Moroccans argued that it is difficult to set up their own business in Morocco, the respondents urged the government to ease regulations related to business creation (52%), reduce taxation (16%), facilitate access to skilled labor (13%), and regulate competition among businesses (12%).
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By addressing most or all of these concerns, the government would further consolidate the already positive image of entrepreneurs in Morocco.
The survey found that entrepreneurs are mostly perceived as job creators (85%), mentors for youth (77%), the source of innovation in society (83%), and creators of products and services for the good of society (85%). Entrepreneurs are also considered risk takers (74%) as well as opportunity (90%) and profit-driven individuals (47%).
Bayt.com’s findings in Morocco are echoed across the MENA region. Two-thirds of the respondents across the region said that they would like to be self-employed, while 25% said they prefer to seek employment in a company.
Jordan, Lebanon, and Sudan held the highest regional percentages in favor of self-employment; the countries’ figures were respectively 76%, 73%, and 72%.
Bayt.com conducted the fieldwork for its report between June 22 and July 19, 2022, in the countries of North Africa, the Levant, and the Gulf Cooperation Council (GCC).