May 19, 2014

Is Myanmar Attracting Startups?

Emerging markets are on the rise, especially in countries like Indonesia, the Philippines and here in our homeland Myanmar. In fact, Trading Economics reports that Myanmar achieves a staggering annual growth rate at 6.50 % despite major setbacks, but growing infrastructure and financial systems. For investors, it is the perfect time to check out what properties are available, and for individuals, such as, investors, expatriates students and families, it is also a good time, seeing as major cities in Myanmar are rapidly developing and catching up with cities in neighboring countries.

Yet, it can be an overwhelming process looking for a dream home and the perfect location. Fortunately as the real estate market is flourishing, so is start-up culture. The combination of the two now allows consumers the possibility to consult some of the best online property finders. Here we have highlighted a few for your consideration.

House is a recently launched property platform that brings the best real estate offers to customers throughout the whole of Myanmar. In addition to its homepage, House also offers a comprehensive journal for each one of their locations, covering everything from directories to interesting articles about architecture and design.

Myanmar Car Market is also an online channel that provides the buying and selling of vehicles dealership within a short period of time. It displays a wide assortment of car listings.

Work caters to a wide audience, offering everything from jobs, cars and real estate. The buy and sell platform also provides an online community for users, which covers topics such as lifestyle and business.

Ads Another general classified site that is simple and easy to use for buyers. Posting an ad is free, and you can search by region for anything from cars, to properties, to travel accommodation. These are just a few of the online businesses present in Myanmar.

STARTUPS
The startup culture is making its way to the forefront of the current job market, and entrepreneurs across the globe are taking a creative approach to the way they work. For instance, as the digital workforce grows, both employers and employees are looking into new ways to build their business. The economic climate is not only attractive for investors but also for those who are involved in the startup scene looking to make an impact locally and globally.

A recent feature on Tech In Asia for example, highlights how Startups in Myanmar could contribute and gain a market share of 80% untapped which is very attractive. Commercially robust and dynamic cities like Yangon, Mandalay, Taunggyi, Lashio, Myitkyina are on the rise
as medium size enterprises and their workforce search for markets that deal with telecommunication, health care, and educational services. This would be simply a reflection and the starting point of e-commerce ecosystem in Myanmar's growing internet market.
Recently, House one of Myanmar's most comprehensive online property finders, featured an article in its journal highlighting Yangon as one of the most expensive and sought after cities in Asia with regard to investment in properties and starting e-commerce business either in services (such as food, hospitality) or production (herbal medicine processing and agricultural machinery manufacturing).

Creating a Startup company in an emerging and young market like Myanmar is challenging, but it could be also rewarding considering the country's internet penetration rate continues to grow annually. This telecom transformation should be a huge potential for Internet startup culture and e-commerce business operations. Along with this progress, several credible financial consultation firms such as Myanmar Business Network and Myanmar Investments are conducing latest market research and developments, and providing realistic market insights to foreign companies. It is time investors and entrepreneurs look into this emerging market. Of course it means new business plans plus grounded actions to reap exponential profits from the sporadic demands as well as to empower and contribute to Myanmar’s overall developments.

MBN




 
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