At a Glance : Starting a Business
2020 Ranking: 70 (2019 Ranking: 152)
2020 “Starting a Business score”*: 89.3 (up from 77.33 in DB2019)
Regional Average (East Asia Pacific): Starting a Business Rank-99, Starting a Business Score 83.9
More information on Myanmar’s performance in Starting a Business - Click Here
* The ease of doing business score captures the gap between an economy’s performance and a measure of best practice across the entire sample of 41 indicators for 10 Doing Business topics (the labor market regulation indicators are excluded). (Source; World Bank)
Why does it matter?
For the company
- When firms formally register, they secure more gains in profits, investments and productivity.
- Informal entrepreneurs tend to employ fewer workers and have less access to business financing than their formal sector counterparts.
- Employees can benefit from protections provided by the law.
For the economy
- Where formal entrepreneurship is higher, job creation and economic growth also tends to be higher.
- Informal firms may deprive governments of potential revenue through income and labour taxes.
- Lower costs for business registration encourage entrepreneurship and enhance firm productivity.