5 Business Ideas for OFWs

Working abroad is quite popular nowadays. Many of us are encouraged to work in a foreign land for greener pastures even if it means being away from loved ones.

It is true that if you work abroad, you can earn more money than with local jobs, but it doesn’t mean that you have to work abroad for the rest of your life.

Most of us may have family members or relatives working abroad and we are pretty much aware that it is no joke living in a foreign country. Aside from the tiring or stressful work, they also experience loneliness away from home.

If you think that you have saved enough money and you are working already for years abroad, then it is now the right time to quit your job abroad, and start establishing your own business.

If you don’t have the idea of leaving your job abroad, you might feel that your hard-earned money is still not enough to sustain all your family need. If it is so, doing a business is a good idea.

Before doing such thing, of course, you should think it over and learn the risk, so it is important not to put all your earnings in one basket. The savings that you had should be divided accordingly and you will get only a portion of savings for you to establish your own business.

Here are some few business ideas:

1. Buy and sell.

Working abroad is a good advantage for buy and sells business. We all know that Filipinos are quite thrifty and second-hand items are cool to buy. When you are working

When you are working US or in any other foreign countries, there are lots of items disregarded by the foreigner, but unnecessarily means that it is not in a good condition.

Some items may be given by other co-workers. Though, not all items are second-hand. It may be authentic items like jersey or shoes, and make-ups. These are good items to sell to fellow Filipinos.

2. Investments

You may hear people saying that investment is quite risky, but most of us should take a risk to get one step forward. Investing is one of the keys to success to earn more money. In investing, although taking a risk, you do not have to put all your money in investment.

A portion of the hard-earned money is all that you need. It is a good idea if you want your money to be doubled. Without investment, your money may disappear in a blink of an eye.

It is true that there lots of investment schemes that are not genuine nowadays, but there are investments you can put your trust. What kind of investment should you join?

  • Real Estate Investment. Investing in real estate will give great profit in return when done properly. Before investing on property, it is a wise action to learn more about investing in real estate. Gaining income in your rental properties give more help to your family and may sustain even bigger for their wants and needs, and you can have another opportunity to invest more. Before purchasing any properties, attend some sort of seminars and studies regarding real estate.
  • Mutual Funds Investment. To have safer investment, mutual funds and unit investment trust funds are the best choices. Another good thing about mutual fund is the initial investment to be deposited. Even with PHP 5,000, you can start your mutual funds investment. One more thing of great advantage of mutual funds and unit investment trust funds is that it is managed by financial professional. It will help you to focus more on your job and other investments.


3. Establish your own online shop.

Having your shop online is much thriftier and easier than having shop in malls. Social network is a great way to interact with your customer, and by using media you can advertise your products.

You can start your business by selling clothes and accessories. Women are fond of visiting online shops so they may be a good target or you can apply as a merchant in well-know online shop websites like Lazada, Amazon, or Ebay.

4. Food cart business.

This is a great idea to start your business by spending a lesser amount of money. You can start your business just by a capital of PHP 10,000 – PHP 50,000. You can start your selling siomai or other street-foods.

5. Blogging

One good thing about working abroad, you can stall around with your free time in unfamiliar places for Filipinos. You can start taking pictures of beautiful sceneries and post it in your blogs. You can write about your experiences working abroad. With blogging, you can attract advertisers and they pay you for it.

Frankly speaking, being OFW is not easy and you know that you can be forever working abroad. Having your business early will save you in later years. When it is the right time to go home, you will have sufficient saving to bring back to your family.

Feel free to share this article...Share on Facebook
Tweet about this on Twitter

Speak Your Mind