The main reason why many Filipinos want to work abroad is the fact of earning higher salary to support their family. This isn’t only helpful for the family but also to the country because almost 10% of the GDP comes from the contributions and remittances of OFWs.
However, there are instances in which the income of an OFW isn’t enough to give his or her family a comfortable life back home. This makes sense to consider investing in business to earn additional income.
Many would think that it is intimidating to start a business, but there are business options ideal for OFWs.
- Food cart business
A food business is one of the profitable ventures because food is a necessity to live. If you don’t have enough money to start a restaurant, you can start small by opening a food cart business. The good thing is that you can franchise a food cart business from reputable and known brand.
This type of business does not require hiring many manpower to operate. The cost depends on the brand or company that you will franchise. All you have to do is to look for a place with higher foot traffic to obtain more sales.
- Travel agency
Since you are an OFW, you would know the difficulties of securing all the documents required in applying for work abroad. With this, you can start a travel agency business in which you can help other people to facilitate their travel. You can offer services like passport and Visa assistance, tour packages, ticket, and accommodation booking.
- Buy and sell items
Buying and selling imported goods is one of the ideal business ideas for OFWs. You can buy items from the country you’re working and sell them in the Philippines. There’s no need to stock a lot of inventory. All you have to do is to pre-order the items and you can also use the social media in selling the items.
As an OFW you should not only think about your present income but also your retirement. Keep in mind that you won’t be working abroad forever. That’s why it’s important to invest in business that will help you to generate passive income.