Friday, August 19, 2022

How Ex-Dubai OFW Started Business in Philippines with 10K Seed Money

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Being away constantly from your spouse and your children are always an everyday hardship for all our Modern day heroes. For mothers who are consistently had to travel back and forth to see their children, this is a struggle that nothing would compare. The thought of not being able to take care of them when they are sick is always heartbreaking for any mother. To put it, for a mother, being away from their children brings them the greatest of pains.

It takes a great deal of desperation, need, and, of course, bravery to be able to leave your children in the hands of your relatives or your husband alone. Sheryl Madayag Laloy is just one of those brave Filipina mothers who took the plane in search of a brighter future for her children. However, back in 2010 one of her two children got sick from Dengue with a 50/50 chance of survival. She decided that saving money for her children abroad would be a waste if being away with them also means not being able to take care of them when they needed her the most.

Before being an OFW, Sheryl graduated with the course of BS Commerce of the Central Philippine University (CPU). After her child recovered from Dengue, she decided to stop working abroad and stay here in the Philippines where she can take care of her children. To do this, she decided to open up a small business wherein she could be able to provide a steady flow of income for her and her family. We can say that she is no stranger in the world of business, considering that she did major in Banking and Finance.

She started with the capital of P10, 000 from the livelihood assistance program of the National Reintegration Center for OFWs. She used this money to open up a boarding house near her alma mater. It was a two-story apartment near CPU that she rents for students who are living far away from home.

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However, the boarding house rental business isn’t that big, and it barely fills out all the rooms of the two-story building. Nevertheless, using the money from the boarding house rentals, she opened up another business, a travel business that caters to all traveling needs of their traveler customers. She slowly expanded this business with the help of her friends and family and was, later on, landed a deal with some corporate accounts. Sheryl didn’t stop there, from the two businesses that she is currently handling; she also opened an online store wherein she sells various items.

From the three businesses, she was able to have a comfortable income to meet all the needs of her children, which are now 14 and 12 years old.

Her story is an inspiration to all OFWs, and she is the living proof that working hard is the key to achieve your dreams.

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48 COMMENTS

  1. Sana magawa ko rin yong nagawa at naabot niya plano ko kasi pag nag for good na ako ng pinas mag nenegosyo nalang ako lahat ng mga kapatid ko binigyan ko ng tig 10,000 peso puhunan para makapag simula sila ng kahit maliit na negosyo piro walang nangyari sa puhunan na binigay ko sa kanila na sayang lang yong perang pinaghirapan ko dito sa Abudhabi.

  2. Sana magawa ko rin yong nagawa at naabot niya plano ko kasi pag nag for good na ako ng pinas mag nenegosyo nalang ako lahat ng mga kapatid ko binigyan ko ng tig 10,000 peso puhunan para makapag simula sila ng kahit maliit na negosyo piro walang nangyari sa puhunan na binigay ko sa kanila na sayang lang yong perang pinaghirapan ko dito sa Abudhabi.

  3. I am an OFW since 2003, but i learned financial education last 2008 and started investing..at first, i was ask to save, minimize my cost of expenses and while studying real estate in Phils specifically Iloilo City, I decided to try buy apartment in Mandurriao with my savings and bank loans ( I also learned to use debts as a tool). As an OFW, i know how it feels to have lots of money (and most of us spends it all) but in the end, there’s always a need to go back home and live where our heart and family is. I would love to share my experiences how to break free and have a choice. Anybody is welcome to message me. I am currently in Iloilo City with my family for unpaid leave for 5 months.

  4. nice story…pero at 10,000 pesos? paano ka magtatayo ng 2story building..kahit pa 70s or 80s..di pa rin…baka ibig sabihin..nag umpisa ng 10,000 pesos…nagnegosyo ng kung ano ano..then tumubo…ngaing 10M saka nagpatayo ng 2story building

  5. Sa panahon ngayon kahit isa kang qualified ofw d ka nman makahiram ng puhunan sa owwa kailangan may pondo ka sa banko at kailangan may collateral kang ibibigay sa kanila gaya ng land title bago ka nila pautangin ng pang puhunan! Anong klaseng gobyerno ito tapos sabihin nila tumirik png sila sa mga ofw!

  6. .life isn’t all about what u have right now but its all about how u will use everything u have at this moment to prosper and progress ur life..c ate ay isa LNG s ptunay nun..hope it will happen to me too..need to fucos and fixed everything..every single cents that I have I hope it will grow and hope I could do that..patience determination motivation self discipline self confident inspiration and hard work is the key..

  7. Let’s just be happy po….and wish that all of us will have the best courage to invite all the blessings in the world. Let us see the good side of it and make this a good example whether its impossible or achievable…….It is not how much, how hard…or how easy..it is about our perseverance and determination no matter what…life is not easy but God is bigger than everything in this world. God bless us all!

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