Guiding Businesses through COVID-19
Listen to testimonies from our entrepreneurs about what ONOW is doing with 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 over 50 million people with a complicated past. 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 asset. The people are taking action to advance their own lives as well as build up their nation.
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.
What We Do and Why We Do It
We emphasize simulation and experience to prepare participants for problem solving and innovation. Participants are equipped with the knowledge of essential components of starting and operating a business.
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.
Access to Capital
1USD = 1300MMK
Who We've Worked With
Connect With Us
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