Market Research

Market research is a crucial step in the process of establishing or developing a business. It enables a better understanding of the market the company aims to enter, as well as the expectations and needs of potential customers. This detailed analysis also helps identify competition and opportunities to seize.

Market research can be qualitative, quantitative, or a combination, depending on the company’s needs. Qualitative analysis involves gathering data on consumer habits, preferences, and behaviors, as well as market trends. Individual interviews, focus groups, online surveys, or telephone polls are examples of qualitative methods.

Quantitative analysis, on the other hand, focuses on numerical data, such as sales volume, revenue, market share, etc. Online surveys, polls, or statistical analyses are examples of quantitative methods.

Finally, mixed analysis combines both qualitative and quantitative data to obtain a comprehensive view of the market.

By addressing the six key questions in the development of market research, a company can identify market opportunities and threats, as well as the strengths and weaknesses of its offering. It can also determine the most suitable distribution channels, as well as effective marketing and communication strategies.

In summary, market research allows a company to better understand the market it aims to enter, identify the expectations and needs of potential customers, and seize opportunities. This enables the company to create an offering tailored to the market and implement an effective business strategy.

Business Model

The business model is an essential tool for the creation and management of a business. It defines how the company will generate revenue, interact with its customers, identify costs, and cover them.

The nine components of the business model are all crucial for the success of the business. Here are details on each of these components:

Customer Segments: Identifying the target group of customers for the company’s products or services. Customer segments must be clearly defined to allow the company to adapt to their specific needs and expectations.

Value Proposition: The combination of products and/or services that meet the needs and requirements of the target customer segments. The value proposition must be clearly defined and differentiated from that of competitors.

Channels: The means by which the company will make its value proposition known to the target customer segments. Channels should be chosen based on customer preferences and buying behavior.

Customer Relationship: The type of relationship the company will establish with its target customer segments, depending on their preferences. This could involve personal assistance, self-service, co-creation, etc.

Key Activities: The essential activities for the company’s operation, such as production, logistics management, engineering, website management, etc.

Key Resources: The indispensable resources for the company’s operation, such as premises, equipment, machinery, financial funds, human resources, skills acquisitions, software, brand, etc.

Key Partnerships: Strategic contributors to the project, such as key suppliers, key partners, etc. Key partnerships are chosen based on the company’s motivations, such as financial optimization, cost savings, risk and uncertainty reduction, resource or specific activity acquisition, etc.

Cost Structure: The most significant costs of the company, such as the most expensive activities, resources, etc. The cost structure can be cost-oriented or value-oriented, depending on the company’s strategy.

Revenue Streams: How customer segments will pay the company, whether it’s per purchase, on a subscription basis, with an annual fee, fixed or negotiable prices, etc. Revenue streams may differ for each customer segment.

In summary, the business model is an essential tool for a company, defining how it will generate revenue, interact with its customers, cover its costs, and succeed in the market. The nine components of the business model are all crucial and should be chosen based on the company’s strategy and the needs of its target customer segments.

Business Plan

The business plan is highly valuable for materializing a shared vision of the project between you and your associates. The business model is the core of the business plan and consists of nine components, such as customer segments, value proposition, channels, customer relationship, key activities, key resources, key partnerships, cost structure, and revenue streams. Both are complementary and must be iterative, adaptable, and modifiable to accommodate changes in the market and the company’s strategy. To develop a business plan, it is crucial to present the project team, the products and services offered, the target market, the economic model, competition, legal information about the company, the action plan, and financial forecasts for 3 to 5 years.

Below are detailed additional insights into the essential elements to include in a business plan:

Project Team Presentation: It is important to introduce key team members working on the project, their relevant skills and experiences, their roles in the company, and associated responsibilities.

Products and Services Presentation: Detailed description of the products and services offered, their utility for target customers, and the advantages they offer compared to competitors. It is also crucial to describe the context in which the products and services will be offered.

Market Presentation: Describe the targeted market segment, its characteristics, trends, and needs. Also, provide information about the target market, its characteristics, and trends.

Economic Model Presentation: Describe how the company will generate revenue, cover costs, and achieve profits. Also, explain the sources of company financing and its financial needs.

Competition: Describe direct and indirect competitors, their strengths and weaknesses, products and services, market positioning, and strategy.

Legal Information about the Company: Describe the legal form of the company, share capital, partners and shareholders, as well as legal and regulatory rules applicable to the company.

Action Plan: Describe measures in place for production development, research and development, marketing and communication, human resources management, as well as the company’s growth strategy.

Financial Forecasts for 3 to 5 Years: Provide forecasts for the value of resources and expenses for the next 3 to 5 years, as well as expected cash flows and profits. Also, describe the company’s financial strategy, especially concerning investments and risk management.

In summary, a business plan is an essential document to present your business creation project to third parties and secure funding. It must include detailed information about the project team, products and services offered, the target market, the economic model, competition, legal information about the company, the action plan, and financial forecasts for the next 3 to 5 years.

Legal Choice for Business Creation

For individual creation, you have the choice between a sole proprietorship and self-employment. The sole proprietorship is a simple legal form suitable for many projects and does not require share capital. However, the manager is personally liable for the company’s debts. The self-employment regime is exclusive to certain regulated activities and allows for a tax exemption for the first 5 years. However, the annual revenues must not exceed a certain amount, and the self-employed individual is subject to income tax.

For collective creation, there are several types of commercial companies, such as SARL (Limited Liability Company), SA (Public Limited Company), and SNC (General Partnership). Each has its advantages and disadvantages regarding liability, share capital, number of partners, and tax regulations. It is important to choose the legal form that best suits your project and consider the tax and legal implications of each option.

Accounting and Tax Obligations

Every sole proprietorship or company must maintain a chronological record of transactions. Additionally, businesses are subject to one or more tax obligations, including income tax, which primarily applies to the income of individuals and the results of companies not subject to corporate income tax.

Corporate income tax applies to the profits earned by companies, except for partnerships that have the option to choose individual income tax.

Value-added tax is a consumption tax on goods and services, paid by the consumer and collected by businesses involved in the production and marketing process.

The business tax (formerly known as the business license tax) is a local tax payable by all individuals and legal entities engaging in a professional activity, but it is exempted during the initial five-year period.

It is essential to adhere to these obligations to avoid tax and legal penalties.

Project Financing

There are several means of financing for a project, including:

Equity: This involves funds contributed by the shareholders or partners of the company, who thereby hold a portion of the share capital.

Bank Financing: This can take the form of conventional investment loans or leasing. Conventional investment loans are loans granted by a bank to finance a project, while leasing is a lease with an option to purchase at the end of the contract.

Grants and Subsidies: There are state programs and project calls organized by institutions or associations to support businesses in their development.

National Guarantee Funds: These are guarantees for bank loans that enable companies to secure their loans and obtain more favorable financing terms.

Honor Loans: These are interest-free and unsecured loans granted by public or private entities to help businesses start or expand their activities.

Other Sources of Financing: There are also other sources of financing, such as crowdfunding, venture capital, and business angels.

Administrative Establishment of the Company

Below is a summary of the administrative steps for creating a company:

Obtaining the Negative Certificate: The business creator must reserve the trade name, acronym, or commercial brand of their company through the website nc.directentreprise.ma.

Identification of the Registered Office: The business creator must provide evidence of occupying the premises of the company’s registered office to the tax authorities and the commercial court registry.

Drafting of Bylaws: The business creator must write bylaws that define the rules applicable to the company. They may seek assistance from a professional in business creation.

Preparation of the Subscription Form: For capital companies, the subscription form must be signed by all subscribers.

Declaration of Subscription and Payment: For capital companies, the declaration of subscription and payment must be made after signing the subscription form.

Freezing the Amount of Paid-Up Capital: For capital companies, the amount of paid-up capital must be frozen.

Deposit of Deeds: The constitutive acts of the company must be deposited with the registry of the commercial court.

Registration for Business Tax: This step allows the entrepreneur to choose their tax regime and obtain their tax and business tax identification numbers.

Registration in the Commercial Register: The company must register in the commercial register with the commercial court in the territorial jurisdiction of the registered office.

Affiliation with CNSS: Any company subject to the social security system must affiliate with the CNSS.

Legal Publications: After registration in the commercial register, two mandatory advertisements are required in the legal notice newspaper of your choice and in the Official Bulletin.