At a Glance : Starting a Business
2019 Ranking: 152
2018 Distance to Frontier Score*: 77.33 (up from 75.42 in DB2018)
Regional Average (East Asia Pacific): 83.29
More information on Myanmar’s performance in Starting a Business - Click Here
* The distance to frontier (DTF) measure shows the distance of each economy to the “frontier,” which represents the best performance observed on each of the indicators across all economies in the Doing Business sample since 2005. An economy’s distance to frontier is reflected on a scale from 0 to 100, where 0 represents the lowest performance and 100 represents the frontier. (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.