The secret to launching a successful business in Myanmar
NMSI's partner in Myanmar teaches entrepreneurship to young adults as a way to make a profound impact in their lives. Starting a business not only provides employment, but increases confidence and problem solving skills. Read below about one new business startup:
"One way that we help students experience entrepreneurship is through our nano grant program. Students are given 5000ks (about $4) in cash to invest over the course of a week, Their goal is to try to invest that money and turn a profit as quickly as possible.
One young women in one of our courses was stumped. How should she use her 5000ks over the course of one week? She worked in a factoryâ€“twelve-hour work shifts, six days per weekâ€“so she wondered how she could find time to invest the money. Then it dawned on her. Why not make money with her co-workers? She took her 5000ks to buy supplies and made pre-packaged meals of fried fish, shrimp and chili. She sold her packets at a great rate and soon many co-workers were buying from her.
After seeing the profit she could make from her small investment, she realized this was not just a one-time activity, but could be a real long-term business. She developed a larger plan to expand this food packaging and also add more products as well. Her co-workers were thrilled that they didn't have to prepare food before work, but could simply bring white rice to eat with the curry.
A new opportunity for this young woman was born."