First social network in Burma was just inaugurated this week. Looks like the social network business is expanding worldwide.
It has been said that “Sites like Facebook, Twitter or Instagram have been inaccessible for years for people of Burma, or Myanmar”.
It is  Rita Nguyen, a Canadian-Vietnamese who founded Myanmar’s first social networking site  named Squar. ”

As the world social network business is booming, it is a good business opportunity to seize. What does it take to start a business from scratch?  Some factors like land, labour, experience and capital need to be considered. Capital such as funding was important to launch the business. However, one cannot enter a market without analyzing and making research. The founder of Squar has previous experience in the technology world. Market research consists of analyzing the market, for instance, Squar’s founder processed primary research data first, she did surveys, communicated, interviewed and collected feedback from Myanmar people. Networking with other businesses and Investors are also primordial for the business to build its name and develop from short to long term. Is evaluating risk important? Yes even if,

“Startup Squar will compete with Facebook for an exceedingly small pool of Burmese web users, with Internet penetration rates in the country at just 1 percent.”,

there’s a lack or no competitors on the Myanmar market. Also, demand is high for the service and therefore, the risks of the business to fail are low but given they have the proper resources. However, competing on the international market like Facebook might be one of the great challenge. Squar had already a competitive advantage on market available so it might start small and safe before going aggressive competition with Facebook.

Link to Video Interview with Squar Founder Rita Nguyen:

BBC News The business of Burmas first social networking site

Other resources :
http://www.socialnetworkingwatch.com/2013/10/burmas-first-social-network.html
http://www.squar.asia
http://www.bbc.co.uk/news/business-24393043
http://www.hollywoodreporter.com/news/myanmar-launches-local-social-media-582263