To start a business in Myanmar, getting an office space become a big barrier for entrepreneurs. There are not much solution for it. Startups exist in Yangon because Yangon is the city where global business come in and internet connection is better than other cities of Myanmar.
To rent a small apartment, the size of 60×40 feet, it cost at least 400,000 Kyat in downtown. The price is always rising. It is also because Myanmar don’t have stock market where they can invest their money on. Currently, Myanmar real estate market became a place for investment. People are buying, selling and renting for business. In that condition, to have a good office space cost a lot. I checked in a Myanmar property website and saw that it cost 30 Lakh of Myanmar Kyat per month to rent an office space in Pansodan Tower. It is quiet cheap by comparing to rent at Hledan Center and Pearl Condo.
Property owner usually don’t rent their apartment just for one month. At least you have to rent for six month and have to pay six months fees at a time. So startups which only have few budget will not be able to approach good space. So that co-working space such as DevLab and Phandeeyar emerged. Co-working space is where people can come and get a chair to work. If having a team, you can get a table for team. But it’s not confidential space for you.
Startups in Myanmar usually rent small apartments to start business. For internet, they buy from local service providers such as RedLink, Yatanarpon. Internet is still not a perfect solution for them too. A small IT campus near Han Tar Wa Ti junction, Yangon, is going to offer cheap rooms for tech startups. Some said it will just cost you 1 Lakh per month for rooms in which 6 employee can work.
Within few years, Myanmar entrepreneurs are hoping property not becoming anymore a barrier to start business.