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Business Ideas for Ofws (Overseas Filipino Workers)

Paper type: Essay
Pages: 5 (1060 words)
Categories: Bus, Business, Work
Downloads: 39
Views: 8

1. Blogging

Blogging can be an online business where you can start anywhere as long as you have an Internet connection. Hence, you can start it while still working abroad. Blogging involves creating a blog or a number of blogs which regularly publish content that are targeted to broad or specific audience. A blog can earn through advertising, sponsorship, affiliate marketing and other monetization schemes. One of the most popular and easiest ways to monetize a blog is through AdSense.

There are actually many OFWs that already become bloggers – and some of them are already enjoying success. For blogging success tips, you may read our post about 100 ways to make your blog stand out from the crowd.

2. Web design and development If you have sufficient skills and knowledge in web programming, this kind of service can be right for you. A website is already an important web property a company should have to gain success in online marketing, branding, and in business as a whole.

Thus, there is a good market for this kind of service. You can start by finding personal clients who will trust your services. And as long as the number of your clients grows, you can hire other website designers to help you.

3. Internet marketing services

Yes, there is money in Internet marketing, and there are already several people who earned a lot in this kind of business. The secret is to build an Internet marketing company. Internet marketing comes in many forms. Internet marketing services include search engine marketing (SEM), search engine optimization (SEO), social media marketing (SMM), online reputation management (ORM), and other internet marketing services most businesses and even large companies need to boost their brand’s exposure or business profit online.

4. Food business The food industry will never perish since people will need to eat to stay alive. Meat, fruits, vegetables, and processed foods are always in-demand products that you might consider selling. You may also try to combine your food business with farming, poultry and fishing. Another idea to consider is selling Filipino delicacies abroad. Though, some OFWs are already doing it because Filipinos abroad are always looking for Filipino food abroad. Restaurants and food chains are also part of the food industry. So if you think you can successfully run such business, you might consider starting or franchising a restaurant, a food chain, or even a food cart business.

5. Water refilling

Purified water has already become a necessity for every household in the country. Hence, the water refilling industry will stay strong in the market.

6. Arts and crafts This skill-based industry can be a good business if done right. This industry includes jewelry making, gift wrapping, gift basket making, bookbinding, flower decoration, and scented candle making.

7. Travel and tourism Since OFWs are travelers and wanderers, they might like to enter into the travel and tourism industry. This industry includes booking and ticketing services, transportation business, hotel and accommodation, and running a resort. Operating these businesses can also be a great way to love and promote our own country to the world.

8. BPO services Business process outsourcing or BPO has been a booming industry in the past decade. With many companies local and abroad that want to outsource their routine tasks, like customer service and support, BPO service providers can still flourish in this industry if managed the right way.

9. Real estate For OFWs who have already saved enough money to buy real estate in the Philippines, the real estate industry can be a low risk yet rewarding venture.

The real estate industry includes real estate development, real estate trading, and property leasing (building apartments or commercial spaces for rent).

10. Manpower services Utilizing human skills can be a good way to do business. It provides employment and contributes to the growth of economy. Manpower services include security services, janitorial and cleaning services.

11. Training centers Knowledge is power. That is why people will try their best to obtain the knowledge or education they need to improve their lives. Depending on your expertise and experience, you might try establishing and running a training center. There are many training and seminars that you can provide, such as business, entrepreneurship, marketing, management, music, arts, communication, and other talent and skill enhancement training.

12. Franchising If you have already saved enough money from working abroad, investing in a franchise business or becoming a franchisee on an already successful business model can also be a good business idea. However, although you will be starting and operating an already successful business model, your participation is still important to ensure the success of your own business. You may check some of the common franchising businesses in the Philippines.

13. Financing and lending If your savings have already reached millions or tens of millions of pesos, then maybe you will be interested in establishing a lending or financing business. In the Philippines, a minimum of P1 million paid up capital for a corporation is required to establish a lending company, while a financing company is required a minimum paid-up capital of up to P10 million depending on the location of the business. Furthermore, financing and lending businesses are strictly regulated by the Bangko Sentral ng Pilipinas (BSP). However, these types of business, when operated and managed the right way can be a profitable business, considering that lending money is a low-risk business.

14. Pawnshop Another business idea is establishing and running a pawnshop. You may read our post on how to start a pawnshop business in the Philippines for more information.

15. Money changer OFWs always need a money changer to exchange their foreign currency earnings to our local currency when they visit our country. Instead of visiting a money changer every time you need to change that foreign money into our local money, why not start your own money changer business?

Here is a guide on how to register a money changer business in the Philippines. 16. Money remittance This line of business can be added to your pawnshop and money changer business. In other words, you can create a hybrid business with pawnshop, money changer and money transfer business. With millions of OFWs who are sending remittances to the Philippines and with many people who are already dealing with long-distance and overseas clients through their online businesses, the money remittance industry is promising.

Cite this essay

Business Ideas for Ofws (Overseas Filipino Workers). (2020, Jun 01). Retrieved from https://studymoose.com/business-ideas-for-ofws-overseas-filipino-workers-new-essay

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