Supporting entrepreneurs and local businesses
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To make Monaco a more attractive place for all types of business, the government has made trade a key driver of economic growth and international standing. It also gives entrepreneurs and start-ups a supportive environment to launch and grow their projects.
Retail, at the heart of the Principality’s appeal
The trade is a strategically important sector for the Principality’s economic development and international influence.
It plays a key role in the nation’s economy and, alongside leisure and business tourism, helps ensure Monaco remains an attractive destination with thriving neighbourhoods.
The Principality's dynamic trade is based on a number of distinctive advantages: a rich economic fabric supported by talented individuals from over 140 countries, an exceptional level of security, an internationally recognised quality of life, and a particularly dynamic labour market.
These assets make Monaco an international capital of luxury, home to the biggest names in fashion and fine jewellery, particularly in the famous Carré d'Or, a veritable showcase for the most prestigious brands. Beyond this iconic hub, the commercial offering extends harmoniously throughout the territory. La Condamine, a friendly and lively neighbourhood, is known for its market, numerous shops and wide range of restaurants. Fontvieille, a dynamic business district, is home to services, leisure activities, and offices. Le Larvotto, seaside district, combines the pleasures of the seaside with shopping and restaurants. Monaco-Ville, the historic district, charms visitors with its authenticity and its tourist attractions and trendy shops. Finally, Boulevard des Moulins, a dynamic shopping street, offers a variety of fashion boutiques, services and restaurants.
The Principality now has more than 800 businesses, nearly 60% of which are in the retail sector and around 15% providing personal services. This diversity enables it to meet the expectations of a demanding clientele made up of visitors, residents and commuters.
In order to assist and support those involved in the sector, the Prince's Government has adopted a proactive and coordinated policy aimed to promote trade and enhance the quality of life in the Principality. The Business Development Agency, which acts as the main point of contact for traders, maintains close relations with those involved in the sector. The Trade Observatory, a strategic analysis and monitoring tool, contributes to the continuous adaptation of the retail offering to the changing needs of different customer groups.
Encouraging entrepreneurship and supporting business creators
Support for entrepreneurship is a central plank of the economic policy adopted by the Prince’s Government, actively fostering an environment that encourages initiative and innovation and helps businesses grow sustainably, while diversifying the economy, creating jobs, and attracting high-value activities to Monaco.
For anyone looking to launch a start-up, raise funding, open a shop or an artisan business, or grow their existing company, the Principality offers a secure, agile, responsive ecosystem. Entrepreneurs can receive personalised support and access various kinds of financial assistance and investment aid, via a single online portal.