Wyly Wade

Myanmar — New SME law could transform the economy

Flag of Myanmar (1974-2010)

SMEs are a principal source of employment globally. Research has also shown that they have been immensely creative and innovative, increasing a country’s ability to produce a diverse range of goods and services and making its economy more resilient to global commodity price fluctuations and macro-economic shocks. In Myanmar, SMEs account for 88pc of all businesses. They face, however, several barriers – mainly fixed costs. For example, complying with tax requirements demands resources. Health and safety regulations also often require large financial investments that have to be paid upfront.

New SME law could transform the economy – Analysis.

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