WHAT kind of job can we do with 10 million kyat in Burma? It is a title of one blogger that I just read online which is urging all readers to leave their opinion in his box. Though I am not obliged to leave a message, I am interesting on the topic he/she uploaded because I am dreaming to begin a private business with limited money in Myanmar. My wife and I know that we have to return home sooner than later if we appreciate family life style. We have been spending much of our youth life in studying and working abroad to date. We often asked ourselves that chasing money in life will make our life complete and perfect. The answer is "No" and then we have to accept the challenges awaiting us when we return a place we call home.
My wife and I have brain storming to find a suitable idea on starting own business. As a foreign worker couple, we cannot save big amount and have to initiate in a small business one. As a civil engineer couple, we only know about construction which is widely considered a boom in developing nation like Myanmar. The problem is that it need huge amount of money to set up contractor firm as well as a good connector from authority if we are about to success. It is obvious that we cannot afford to lose our hard earn money from about 9 years saving in a one bad idea. It drag us to start own business. Luckily, we found a local business partner who is my former boss when I worked domestic in the fresh days upon my first graduation.
We went back home with the prospect of signing agreement to start business not later than end of this year. We realize that it is always easier said than done. There are a lot obstacles to overcome at very first points. Knowing a lot illegal projects in Yangon, we do not intend to start business illegally. The problem begin there. To become license contractor, we need to put 50 million Kyat deposit to YCDC. The deal done at that point. Where got such big amount for a small contractor? I always fed up with government's news saying they are willing to support local SMEs to survive. They have to go ground and survey what is happening at grass root level. In Myanmar, top officials keep issuing statements and form several committee and lower level do whatever they like. The law are never enforced and it could be easily adjusted if you are either super rich or close person to top official. This is really happening to our society and it make difficult to get level playing ground for honest local SMEs. Now we all know that some biggest companies are privileged to evade tax while middle class smaller companies suffer by paying annual income and trade tax. So long as no level playing field is available, it would keep destroying our dream of setting up small company in Myanmar.
The whole world know Myanmar's land price is extraordinarily up and it is beyond acceptable due to so many reasons. No matter reason, it is further burden for ordinary citizen to own a place to call home. The government shamelessly say that the plan is in place to build low cost housing for lower incomer. The reality is that their basic rate 20million Kyats is far far away from the reaching level for even middle income class families. I don't know how this problem will be fix in foreseeable time. No wonder the rich-poor gap become wider by time and there is no remendy to stop the trend. Overall survey during our recent trip make us find alternative way of doing business other than entering construction sector. Our local partner also find it difficult to survive after learning a bit on ground. It is crystal clear that we cannot proceed without our partner's financial power. Because starting a project will need us at least 100 million Kyat in hand to make a project successfully completed. As a QS couple, we try to calculate on paper and we found it is hard to gain profit even the project went well without problem. Then, we ask ourselves that better stay silent than acting if there is no profit on paper. We know that we have to scarify ourselves for something special. But we just simply cannot take risk too much for our saving because we have responsibility to raise our daughter up.
Now we are exploring the idea that will allow up return home with a small business in mind. We finally decided that we won't mind if the new idea will not allow us to stay in Yangon. Trying to get back basis, we have to die one day and we try to contend ourselves if we could earn for living enough. Now we're thinking plan B of doing trading in my home town if our plan A doesn't work well. We have been working half of our life time for others and we are sick and tired of it. We would be happy to be our own boss where possible and of course we'll keep trying to find an opportunity to start our own business within our limit.
May all young entrepreneur able to success their dream project.
