Guiding Businesses through COVID-19
ONOW Myanmar Joins Youth Business International's Rapid Response Recovery Programme, Funded by Google.org, To Support Struggling Small Businesses During The COVID-19 Crisis.
Myanmar is a country with 50 million people coming out of 60 years of self-isolation. Myanmar is young, with 45% of the population under the age of 25. The ethnic diversity of the country is both a challenge, and potentially its greatest strategic asset. While there is currently strong optimism that a tide of change is coming over Myanmar, there is still much that needs to be done.
Decades of mismanagement of the country’s economy have made Myanmar one of the poorest countries in Asia. Today only 1/4 have access to electricity.
Lack of Capital
Those who want to start businesses are held back by a lack of access to cash. Some loan sharks and pawn shops even charge usurious rates of upwards of 40% interest per month.
Rote memorization and untrained teachers have led to a broken education system. Only 1 in 10 students who start school passes high school graduation. Creative thinking is de-emphasized.
Learn more about what we do and why we do it!
We emphasize simulation and experience to prepare students for problem solving and innovation. Students are equipped with the knowledge of essential components of starting and operating a business.
Access to Capital
We help Entrepreneurs understand their sources of capital, including family networks and micro-finance institutions. If not available, we step in and directly provide the necessary startup capital.
We mentor businesses in the fragile first years of their new venture. We emphasize the importance of cash flow management. We ask questions that help Entrepreneurs make decisions with an eye toward the future.
Since our launch in 2012 we have trained over 700 students in entrepreneurship and small business management.
Many of the Entrepreneurs we train do not have access to finance for their businesses. We offer startup capital to launch their business.
Our flagship incubator works with migrants in Yangon, but we operate in 10 Regions of Myanmar.
Who We’ve Worked With:
Connect With Us
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