Moroccan SME financing policy: A source of resilience during the crisis COVID 19

Abstract

Very small and medium-sized enterprises (VSEs) play a crucial role in the economy, creating jobs and fostering innovation. However, their compact structure and limited financial resources expose them to market fluctuations, particularly during crises such as pandemics. It is therefore essential to manage these crises in order to strengthen the resilience of SMEs during difficult periods. In Morocco, the economic landscape is largely dominated by SMEs, yet an increasing number of them have gone bankrupt in recent years, underlining the importance of understanding and strengthening the specific resilience factors for Moroccan SMEs in times of crisis. The aim of this article is to explore the existing literature, within a systematic review, on the links between financing policy and the ability of Moroccan SMEs to overcome the COVID 19 crisis and demonstrate resilience. Through the analysis of different theories and a set of reports published by official bodies, we will seek to examine the financial situation of MSMEs in recent years, marked by several crises, while highlighting the mechanisms put in place by the state to strengthen their resilience and improve crisis management. This article focuses on the critical importance of financial resources in the process of strengthening the resilience of Moroccan MSMEs during crises, highlighting the need for an appropriate financing policy to support these companies and ensure their survival in an unstable economic environment.

Key words: Very small and medium-sized entreprise, crisis, resilience, Financing policy

JEL Classification: M11

Paper type: Theoretical research