Business Center in Monaco – The Covid19 and the Monegasque economy

Since its independence in 1861, the Principality of Monaco has always been innovative in its management and development. More than a strategic financial and commercial area, Monaco is a place where its companies and residents can flourish. On the strength of its social-liberal model, the city-state knows how to be pragmatic : it anticipates the needs of the future by drawing on its past experiences.
AAACS is inspired by this model in order to remain as close as possible to your daily needs. Flexibility is our team’s watchword. Always available for you, we support you throughout your business project. From the creation of your legal structure to your installation in our business center, we are available for your needs.

The global Covid 19 crisis could have called into question the efficiency of the Monegasque system ; in reality, this is not the case. The Monegasque government, its residents and businesses have shown a rare resilience during this health crisis. The government has supported economic activity, putting in place exceptional support plans. Despite the isolation, residents have shown solidarity through the implementation of common actions and activities. Finally, businesses have fought to maintain the sustainability of their activities, despite a difficult macroeconomic context.

It is for these different reasons that we, at AAACS, are convinced that economic activity will rebound. With certain needs brought to light, many business opportunities are appearing, it is up to us to know how to seize them ! Monaco is, and will remain, an international place of reference for business. Entrepreneurship has never been so well supported, and certain organisations such as the FEDEM or the MEB are fully committed to this approach.

Our objective is simple : to make your life easier for the development and the sustainability of your business.

For the future, we will have to learn valuable lessons from this crisis. Firstly, we can improve our work organisation. The flexibility that telework offers us is a real opportunity for many companies, it translates into time saving and increased productivity. Secondly, the need to use digital tools can no longer be disputed. We must therefore continue the development of these digital tools in order to gain in efficiency (with, for example, the digitisation of administrative procedures). At the ecological level, new technologies are also a great opportunity to fully enter into the ecological transition. Finally, we will remember that the entire Monegasque system has managed to stay afloat, while many other states were faltering or even stumbling.

We strongly reaffirm our optimism about the future, Monaco will bounce back as its businesses will rebound. All our team remains at your entire disposal for any request, do not hesitate to contact us for further information.

By PIMORT Mathieu
The AAACS team