Quick Answer: Which small business is best in Myanmar?

What kind of business should I start in Myanmar?

Key Business Opportunities in Myanmar

  • Agriculture. Myanmar’s economy is based on agriculture as the country consists of abundant fertile land and water resources. …
  • Tourism. …
  • Real Estate and Urban Solutions. …
  • Manufacturing. …
  • Power.

How can I start my own business in Myanmar?

The first step in company incorporation is to apply for a Business Incorporation Certificate from DICA, with the submission of certain documents:

  1. Form A of the Myanmar Companies Regulation 1957.
  2. Draft Memorandum and Articles of Association.
  3. Duly completed questionnaire form.
  4. Intended activities to be performed.

What are the most successful small businesses?

Most profitable small businesses

  1. Auto repair. Taking a car to the shop for even simple repairs can be a challenge. …
  2. Food trucks. …
  3. Car wash services. …
  4. Electronics repair. …
  5. IT support. …
  6. Personal trainers. …
  7. Newborn and post-pregnancy services. …
  8. Enrichment activities for children.

Is Myanmar a good place to do business?

Yangon, Sagaing, Bago and Nay Pyi Taw have emerged as the best environments in which to do business in Myanmar, according to the Myanmar Business Environment Index 2020 (MBEI). … Results are analysed to produce an index for each state and region of Myanmar, establishing a benchmark for rating business-friendliness.

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Can foreigners do business in Myanmar?

The Myanmar representative office

Local regulations stipulate that foreign companies can open representative offices in Myanmar. While the representative office can be 100% foreign owned, it is not allowed to pursue production-related or commercial activities in Myanmar.

How many types of business are there in Myanmar?

Among them, the main types of companies and entities which are registered by investors are (1) Private Company Limited by Shares, (2) Public Company Limited by Shares and (3) Overseas Corporation. For private companies being set-up, only one director and one shareholder is required.

How long does it take to register a company in Myanmar?

4. Apply for company incorporation. Apply for company incorporation along with a Xerox of the ‘permit to trade’. The process for company registration in Myanmar can take 4-6 months.

What is the hottest business to start?

What Are the Best Small Business Ideas?

  1. Best Online Small Business Idea: Start a Profitable Blog. …
  2. Online Courses and Coaching. …
  3. Start an Ecommerce Business. …
  4. Start a Podcast. …
  5. Sell Custom Printed Products. …
  6. Graphic Design. …
  7. Web Development. …
  8. Instagram Influencer.

What small business are in demand?

14 profitable small business ideas worth starting in 2021

  • Home improvement services. In 2020, the housing market saw its highest pace of growth since 2005. …
  • Cleaning services. …
  • Tutoring services. …
  • Personal training and fitness instructors. …
  • Delivery services. …
  • Digital marketing services. …
  • App development. …
  • Accounting services.

What kind of business makes most money?

The Most Profitable Business by Sector:

  • Accounting = 18.4%
  • Lessors of Real Estate = 17.9%
  • Legal Services = 17.4%
  • Management of Companies = 16%
  • Activities Related to Real Estate = 14.9%
  • Office of Dentists = 14.8%
  • Offices of Real Estate Agents = 14.3%
  • Non-Metalic Mineral and Mining = 13.2%
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