For those Filipino seafarers working abroad who are planning to retire soon, or thinking of investing their savings into business, a new opportunity awaits as Overseas Workers Welfare Administration (OWWA) opens its Business Plan Competition this year.

The business plan competition is a Public-Private Partnership between DOLE OWWA-NRCO and Integrated Seafarers of the Philippines (ISP) and its affiliated manning agencies.

The program promotes a holistic approach to reintegration preparedness among seafarers with their families.

The competition is open to active and inactive seafarers, 25 years old and above, who are interested to venture into entrepreneurship soon. Work experience does not necessarily matter in joining the competition.

Also allowed to join are inactive seafarers or those who are already staying in the Philippines for not more than five years.

The competition process

In the event that the seafarer is working abroad, the members of the family of the seafarer can join and apply on his behalf but ideas should be coming from the seafarer himself.

The said competition is open for business start-ups as they welcome all types of business except franchising.

The competition has four stages.
The first stage is proposal writing that must be submitted on or before September 6 to / or through the OWWA Regional Welfare Office 7, 2nd Floor, DOLE-7 Building, Gen. Maxilom Ave. corner Gorordo Ave., Cebu City or contact us at (032) 254-3199 / 0916-317-1121.

The second stage is the screening round wherein all qualified entries will be screened down to 10 outstanding proposals. This includes background checking. In the event that there would be anyone from such list who would like to withdraw his/her entry, entries ranked 11 to 15 shall be considered to complete the ten (10) finalists. The announcement will be done on the last week of September 2019.

The third stage is the mentoring round. The top 10 contestants will undergo mentoring in Manila, which includes one-day-one-topic about business and entrepreneurship, business planning, tax and business registrations, financial management, Human resources management, marketing and sales, personality development, and other negosyo tips by the Department of Trade and Industry (DTI). The contestants must attend all topics; otherwise, they may be subject to disqualification.

The final round is expected to happen on November 2019, where contestants are required to defend their proposals before the panel of judges. Questions will revolve around the proposal, and the announcement of winners will be done after it.

Criteria for judging includes content of the plan including social business idea and purpose (30), impact on the community (20), financial viability (30), clarity and presentation of the business plan (10), and drive/determination of the business plan owner-entrepreneur (10)- for a total of 100 points.

The business plan of the year overall champion will receive P500,000 grand cash prize (to be given in three tranches), P100,000 for first runner up, and P50,000 each for the remaining finalists. Also, there are possible grants and access to preferential business loan funding from NCRO and its partners.
After the competition, the OWWA thru NRCO monitors the progress of such business. We assist them in the first few stages of putting up their business.
The NRCO-ISP Business Plan Competition is a special project for seafarers and their families by the National Reintegration Center for OFWs (NRCO), in partnership with the Integrated Seafarers of the Philippines (ISP).

The NRCO is a government agency under the supervision of the Department of  Labor and Employment (DOLE) and the Overseas Workers Welfare Administration (OWWA), mandated to develop, promote, and implement a national agenda on sustainable return and reintegration of OFWs.

Meanwhile, the ISP is a non-stock and non-profit organization formed and established for the welfare of Filipino seafarers and their families. It aims to create avenues where the seafarers’ families can improve their lives while the seafarers are on active duty; and to provide ways for their easier social reintegration after the culmination of their overseas jobs. | (PR from NRCO Region 7)
Application form can be downloaded here: 
Business Plan Template can be downloaded here: 
To know more about this, you can download the brochure here: 

By Bohol Island News

Your reliable source of news and content in the island and the rest of Central Visayas and Mindanao.

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