Working abroad is one of the popular trends for Filipinos today. There are a lot of reasons why millions of Pinoys decide to work abroad and leave the country for a while. One of the main reasons is the bigger income opportunities and higher salary that awaits them in the foreign lands. Compared with the average wages that workers get here in the Philippines and the ones that they can get from other countries like the United States, the United Kingdom, Canada, Australia, and the Middle East, the difference is really big.
Aiming for greener pasture, a lot of Filipino workers are moving out of the country.
However, everything comes with a price. OFWs earn more money but in exchange, they leave their loved ones and families behind. This can be a sad reality not only for the OFWs, but for their families as well.
More Business Opportunities
Our modern day heroes are fighting and sacrificing their lives just to give their families happier and more peaceful lives. With the amount of money that OFWs are sending to their families from abroad, it is also important to know where to invest it and not just rely on working abroad for a long time.
Here are four businesses in the Philippines that OFWs can try if they want to come back to the home country and be united with their families again without the need of coming back abroad.
The food industry will never perish since people would need to eat. Foods like fruits, vegetables, meat, and processed foods are always in-demand. You may try to combine your food business with farming, fishing, poultry, and NFA rice.
Another idea to consider is selling Filipino delicacies abroad. Some OFWs are already doing this since Filipinos abroad are always looking for Filipino delicacies. Food chains, restaurants, and food cart businesses are also profitable businesses.
Purified water is already a necessity for every household in the country. Because of this, water refilling industry is a strong business to start in the market.
Knowledge is power. People will try their best to obtain the knowledge or education they need to improve their lives. Depending on your experience and expertise, you may also establish and run a training center. Training for business, entrepreneurship, marketing, management, and talent and skill enhancement training are useful, especially for people who also want to work abroad.
Financing and Lending
If you already have savings that reached millions of pesos, try establishing a lending or financing business. A minimum of P1 million paid-up capital for a corporation is required for a lending company while a financing company requires a paid-up capital of a minimum P10 million.