FINANCING MICRO BUSINESSES IN MOROCCO: CASE STUDIES
Journal Title: European Journal of Business and Social Sciences - Year 2015, Vol 4, Issue 2
Abstract
he presentation is a part of a vision on the situation of Moroccan micro business. A renewed interest is given to it because of its dominance in the national economy. It faces several constraints related to surviving, sustainability and growth. While the academic research in financing target large companies, small businesses interest a limited number of studies. This research focuses on funding conditions of multiple case studies of Moroccan micro businesses; it aims to explore firstly their funding sources, their preference in funding and finally choice of their habitual bank. Results show that the owner personal reserves are the primary source of funding for studied micro businesses. Internal financial resources are preferred over external as so in the context of the pecking order theory. The majority of studied micro businesses have revealed that the choice of its habitual bank is based on the condition of the relationship component showing thus the importance of this determinant in the relationship micro business-bank in Morocco.La communication s’inscrit dans une optique de mise au point de la situation des micros entreprises marocaines. Au Maroc, un regain d’intérêt est remis à la micro entreprise vu son importance au tissu économique national. Les micros entreprises se trouvent face à plusieurs contraintes de survie, de pérennité et de croissance. Au moment où la recherche académique au domaine de financement cible amplement les grandes entreprises, les petites entreprises intéressent un nombre limité d’études. Ce travail de recherche s’articule autour d’un état du lieu du financement de multiples études de cas de micro entreprise marocaines, il vise à explorer en premier lieu leurs sources de financement, leur préférence en financement et finalement le choix de leur banque habituelle. Les résultats démontrent que les réserves personnelles du manager constituent la première source de financement des micros entreprises étudiées. Les ressources financières internes sont préférées à celles externes s’inscrivant ainsi dans le cadre de la théorie de financement hiérarchique. La majorité des micros entreprises étudiées ont dévoilé que le choix de sa banque habituelle se base sur le critère de l’aspect relationnel montrant ainsi l’importance de ce déterminant dans la relation micro entreprise-banque au Maroc.
Authors and Affiliations
Sakina EL OUAFY| Phd student in management science Research Laboratory in Entrepreneurship, Finance and Audit National School of Trade and Management Ibnou Zohr University- Agadir (Morocco), Ahmed CHAKIR| Professor Research Laboratory in Entrepreneurship, Finance and Audit National School of Trade and Management Ibnou Zohr University- Agadir (Morocco)
Keywords
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