NRCO paves way for Pinoy seamen to be entrepreneurs

CEBU, Philippines — The National Reintegration Center for OFWs (NRCO) of the labor agency wants to transform Filipino seafarers into entrepreneurs through a business plan competition.

Seafarers may take home a P500,000 cash prize by simply making a business plan.

The NRCO and the Integrated Seafarers of the Philippines (ISP) has urged seafarers in Central Visayas to join the “From Seafarers to Entrepreneurs: The 2018 NRCO-ISP Business Plan Competition (Harnessing Seafarers’ Capacities for Business Enterprises Development)”.

The nationwide competition is open to active seafarers preferably those who are planning to retire from sea life and interested to venture into entrepreneurship; and inactive seafarers who have been in the Philippines for not more than five years and interested to venture into entrepreneurship.

DOLE-7 regional director Alvin Villamor urged all overseas seafarers in Central Visayas to discover their business inclinations, and design a comprehensive, feasible and viable business plan.

“Beginning this year, any business idea that’s not necessarily from the agri-business industry, as long as it is a start-up one, which means that it is new, not an existing undertaking, and not a franchise, is welcome,” he said.

Participants may join the competition in solo, duo or by group (minimum of 3 members).

Competition entrants, whether individually or members of a team, must be Filipino and 25 years old or older.

“This is the fourth time for the NRCO, in partnership with the ISP, to conduct a business plan competition for returning seafarers. Through this program, we would like to produce OFW seafarers who can make a difference upon their reintegration in the country, just like whose whom we have assisted during the past three years,” said NRCO director Roel Martin.

Region 7 had two seafarers last year who formed part of the 10 finalists in the competition.

Mae Codilla, regional head of the Overseas Workers Welfare Administration in Central Vsayas challenged the around 93,000 seafarers who come from the region to come up with novel business ideas and join and win in the competition.

The 2018 NRCO-ISP Business Plan of the Year will get P500,000 grand cash prize, which will be given in three tranches.

Winners could also be possibly granted with and given access to preferential business loan funding from the NRCO and its partners.

Acceptance of entries started last May 18 until September 7 as the deadline of submission. (FREEMAN)