Tips for OFW’S in Starting a Business

Tips for OFW’S in Starting a Business Being an overseas Filipino worker is not forever, and one day you will get tired and definitely leave your job. Some of them decide to enter a business or investment that will make their money grow. Instead of relying on their monthly income, business is a good idea […]

Tips for OFW’S in Starting a Business

Being an overseas Filipino worker is not forever, and one day you will get tired and
definitely leave your job. Some of them decide to enter a business or investment that
will make their money grow. Instead of relying on their monthly income, business is a
good idea to start while making money overseas. Even if an OFW has a strong
willingness, there are still mistakes that make the business failed. We have to be careful
in entering the world of entrepreneurship.

Opportunities are once in a blue moon to cite and OFW’s attempt to enter a business
directly, or through business partnerships. Many of them became successful after
several years, but there are some that failed in their early years in business. Being an
entrepreneur has a challenging part where the business usually didn’t survive. There
are common mistakes that we should avoid to happen in investing in a business in our
country. Here are tips for OFW’s who want to enter a business venture.

Look for a knowledgeable, competent, and experienced partner in starting a
business while working abroad.
A wife in the Philippines asks for capital to start a small grocery store business since
their location is near people. With all his excitement, the OFW thinks that finally, he can
have a business while working abroad. Well, the intentions are good but the aftermath
and result will sometimes be on our side.
Since the wife has no experience in managing a grocery store and dealing with
customers, the business collapsed and failed. As a result, the wife decides to give up
the business in less than a year of operations.
Despite strong eagerness, a business without plans, supervisions, and knowledge
will likely fail.

Make sure to enter a business with a plan and product knowledge.

As an OFW who has enough salary and savings, financing a business is not a big deal.
They are easily attracted to promising business investments and ventures without any
knowledge and research about the company itself.
In the Philippines, there are many illegal and unauthorized companies that still operated
and usually victimized OFW’s with their scheme of “quick returns” or “easy money”.
Investing in a company without proper plans and ideas on how it works will surely fail.
All business always needs time to prosper, distinguish in industry, and prove the loyalty
and legalities to customers.

Choose an investment or business where they can use their knowledge and
skills.
Work experience from abroad can be a great advantage in starting a business here in
The Philippines. When an engineer comes back home, he can use it to enter a construction
company business. They can apply their knowledge and skills in planned business
instead of entering a different industry.
Being an engineer for years can be a tool for your desired construction business. It will
help you in gaining your client’s trust since you are knowledgeable about your products
and services.
Whatever your passion, skills, and knowledge, you can use it in starting your own
business.

Are you an OFW and looking for a business that suits your budget and passion?
We are willing to help you on your way. We offer free seminars and orientation to all
clients.
Send us a message.
Email: fabannachavez@gmail.com