Financial innovation of Small and Medium Enterprises in Morocco in the area of energy optimization: State of the art

Abstract

The Moroccan entrepreneurial ecosystem is composed mainly of small and mediumsized enterprises (SMEs). These SMEs are currently undergoing profound changes after the financial and health crises, characterized by upheavals and uncertainty. This global context has prompted SMEs to be more and more competitive in order to cope with high degrees of turbulence and unpredictability. This requires the adoption of financial innovations and the inclusion of new modes of financing, in order to overcome the constraints of limited access to resources and the problems of undercapitalization that are related to information asymmetry and insufficient guarantees. These enterprises are using financial innovation can help SMEs understand the financing mechanisms available and encourage them to invest in energy efficiency projects. The objective of this work is to draw up an inventory of different techniques of financial innovation put in favor of Moroccan SMEs and adapting financial innovation in Moroccan SMEs can play an important role in optimizing energy consumption. To this end, the entrepreneurial orientation of SME owner-managers aims at adopting innovative financing means, such as Private Equity, Crowdfunding, Business Angeles, Venture Capital and Digital Finance to facilitate their sustainable development.