Small Business ideas in Myanmar
Our discussion on small business ideas in Myanmar might be your first choice to be started new business. Republic of the Union of Myanmar is a promising but challenging country as far as businesses are concerned. An underdeveloped country, rich in natural and land resources being one of the key pre-requisites for economic development situated in the heart of the world’s fastest-growing region. Myanmar is a home of close to 53 million with around 90 percent literacy rate, has been under conservative rule for long and still unclear about its economic policies. Consequently risky are the businesses requiring healthy but long term investments. There are ample overseas entrepreneurs failed to achieve the goals they bring with themselves here in Myanmar. It’s indeed, not an easy going market that affords lazy approaches to succeed.
With the transition process began in 2011, the Government of Myanmar has rolled out a big list of reforms targeting economic growth. The reforms had put much weight on the small and medium sized enterprises [SME] considering country’s poor capital growth and the per capita GDP of 1, 275 dollar. According to the government of Myanmar, more than 90% of the economy is composed of private companies, particularly small and medium enterprises SMEs.
With this in mind, planning small business here in Myanmar is rewarding in terms of its investment requirement, ease in management and rate of return ROR. If some entrepreneurial ethos residing in yourself then stay tuned to eyeing on some really handy but promising small endeavors in Myanmar, might turn in to a big one as you age.
In a convenient location stocking a limited range of household goods and groceries could be a handy but good venture. What you have to plan well is the selection of merchandises in line with the customer base.
Based upon a virtual office concept this can be organized even in your home tying yourself up with some agencies in the high streets on commission basis. Occasionally you may organize some tourists guide services to add some extra.
Cell phone loading or recharge shop
Renting a small spaced shop or sharing with someone you can start this. You need to come into an understanding or into an agreement with the network operators.
Some dry snacks, biscuits with tea or even coffee are the best joints for the people passing by. If you can install one near any market place, [Places near flea markets are good for this business and would save costs of rentals in comparison] or in a street corner or near any educational institution and serve with cleanliness, I bet you do good.
We use to dub it educating business. You can do it without even renting a space. Just spare one room of your house, if possible and buy some high and low benches to sit on. Well, you can install an A/C if your business permits to catch more students. You need to give some advertising posts in social Medias, printing some leaflets or flyers to distribute among schools or colleges nearby.
In tropical countries like Myanmar, fruit juices sell well. This can be done either in a posh way in posh locations or just standard one looks healthy and clean in a reasonably good location. You need to buy some furniture, utensils, mixers and juicers as one time investments other than fresh fruits on regular basis.
As population increases and design changes demands for tailored dresses especially for girls are going up. You need to rent a space, buy some quality sewing and auxiliary machines. You also require a good cutting master and some sewing operators. The initial costs of this venture might be higher a bit, but you can make it up as business grows and continues.
Mobile food stations
Businesses relating to foods never go without paying back, provided you have to serve quality foods at reasonable prices. Moving around different strategic points, intersections during lunch or evening time serving either ready or cooked to orders foods are really very promising. Well, depending on the transports project costs will vary and is recommended small business ideas in Myanmar.
It’s a business with style. Events are there of varying types and natures marking occasions, festivals. What you need is expertise to organize different events catering the demands of these and contacts with the sponsors. It requires advertising, arranging venues, some printing jobs etc. This business costs very minimal comparing to others but returns both cash and glamour.
Social media managers
As virtual world gets momentum thirst for increasing presence on this is never ending. Interacting with the viewers or customers on social media platforms like Facebook, LinkedIn is very important for the marketers now. Almost all small and big businesses have Facebook fan pages. Events, campaigns are going on regularly on these Medias. To manage the fan pages and the events or campaigns online corporate houses outsource these to the independent firms usually called agency. You need a few work stations with internet connections visualisers and some account executives other than the corporate clients. This is smart small business ideas in Myanmar for this generation and even in future.
Buying and selling online is shaking the very foundation of brick & mortars. Retail giants are even debating on Bricks or Clicks. Volume of trading online increasing day by day and will continue to rise as the lives of the human being becoming busier. A responsive website with rich stocks and prompt delivery schedule would make the click store very rewarding.
Each and every country has something very own, something special, something bearing signature of the country. We usually name them souvenirs. These sell always. This can be bigger or smaller depending upon the richness of your collections. Whatever it might be, it will provide you with the breads and butters you need if you could locate it in and around popular tourists spots.
With around 2 to 5 hundred thousand MMK one of these can be started, provided you aren’t trying to do anything extravagant unnecessarily. Remember, none of the richest of the world now at the top of the ladder has started from top. Of them, one was a drop out and another jump-started from the university dorm. It was not the money; rather the idea fulled their business rocket up. I guess, you are thinking which small business ideas in Myanmar should start and fit for you by low investment? You are recommended; select which ideas like the best and joyful for you. Do you like to register new private limited company as foreigner?