Officially known as the Republic of the Union of Myanmar, the country is in the Southeastern part of Asia. It is the largest by land mass in the region, with a population of over 50 million people. The country shares borders with Bangladesh, India, and China in the north, Laos in the east, and Thailand, Andaman Sea, and the Bay of Bengal in the south. Its capital city is Naypyidaw, while the largest city is Yangon. The country is a part of the East Asia Summit, Non-Aligned Movement, ASEAN, and BIMSTEC. The republic has vast natural resources, including gems, oil, natural gas, as well as renewable energy. Historically, this territory has suffered from economic instability, corruption, violence, poor infrastructure, and colonial exploitation. In terms of economy, its GDP stood at US$56.7 billion. The income gap in the country is one of the world’s widest, as a large proportion of its economy is controlled by the military junta. According to the Human Development Index, it ranks 147 out of 189 countries in terms of human development. Starting an IT business here can be challenging due to its developing economy and limited IT infrastructure.
IT in the country
There are few media entities in the country due to its political instability. Of those existing, few are private-owned. The Burmese government stopped its censoring of media before publication in 2012. Internet usage in the republic is considered lower compared to other countries. Just as with the media industry, it was previously subject to censorship, where authorities could see e-mails and posts on Internet blogs until the government removed the censorship. In terms of communications infrastructure. This nation ranks last amongst other Asian countries, in the World Economic Forum’s Networked Readiness Index (NRI), the indicator for estimating the level of development of ICT sectors.
Starting an IT business in the republic
Starting an IT business here can be a promising and exciting venture. Some of the steps to think about are as follows:
Market research
Conduct market research to identify potential customers, competition, and market trends in the nation. This can help you determine whether there is a need for IT services and what types of services are in demand.
Choose a niche
Consider focusing on a specific niche or IT service category that is not widely available within the territory. This can help differentiate one’s business from competitors and attract customers.
Business registration
Register the business with the relevant authorities in the nation. Business owners need to obtain a business license and tax identification number.
Set up a website
Create a website that showcases available IT services, allows customers to request quotes or services, and provides information about the company and team.
Hire diligent employees
Identify and hire skilled IT professionals who can provide quality services to clients. Consider partnering with local universities and colleges to recruit fresh talent.
Marketing
Develop a marketing plan to promote the business and attract customers. Consider advertising on social media platforms, attending industry events, and partnering with local businesses.
Set a price
Determine the pricing model for the IT services. Consider offering a range of pricing options to suit different budgets and needs.
Customer service
Develop a devoted customer base by offering superior customer service. Respond promptly to customer inquiries and complaints and ensure that all services are duly delivered on time.
Starting an IT business here can be challenging due to its developing economy and limited IT infrastructure. However, with the right planning and execution, it can be a profitable and rewarding venture. It is important to stay up to date with the latest technological trends and innovations to remain competitive in the market.
