Chapter 1

INTRODUCTION EFFICACY CONSULTANCY & MANAGEMENT SERVICES (EFCONMAS for brevity) is a private consulting firm with office address located at St. Matthew Avenue, Dona Juliana Subdivision, Brgy. Taculing, Bacolod City. EFCONMAS is a single proprietorship duly registered with the Department of Trade and Industry under Certificate No. 01131465 which existence is valid for five years and renewable every five years. It operates as a business consultant. The primary purpose of EFCONMAS is to render services in the three areas of management consultancy specializing in: Formation, incorporation and registration of start-up business according to asset size and category, line and type of ownership; Management Services such as preparation of income tax returns with audited financial statements and processing of land titling to include ownership transfer; and lastly, preparation of feasibility studies on cooperative housing projects and business loan packaging. EFCONMAS which hopes to become one of the most reliable consulting firms in Bacolod City and in the Province of Negros Occidental provides a variety of business services as afore-stated. Recently, due to government mandate to assist Overseas Filipino Workers (OFWs) by providing fund for them to become entrepreneurs if they opt to become such, EFCONMAS considered expanding its services to include assisting OFWs, primarily those repatriated Overseas Filipino Workers, who are affected by political unrest mostly in the Middle East and Africa and those who were hit by Saudinization Policy, by assisting and developing them in becoming successful entrepreneurs and exporters.

EFCONMAS, in order to attain its objective, has to tap government agencies involved in carrying out the OFW Reintegration Program, such as the Overseas Workers Welfare Administration (OWWA) in partnership with the Development Bank of the Philippines (DBP) and the Land Bank of the Philippines (LBP) which launched during Migrant Workers Day on June 7, 2011, the OFW Reintegration Program 2Billion Pesos Reintegration Fund which is intended to support enterprise development among OFWs and their families. These OFWs are composed of 1. OFW Returnees those who have decided to return to the Philippines permanently. 2. Returning OFWs those who have returned but still desire to leave for overseas employment. 3. Distressed OFW Returnees those victims of human trafficking, illegal recruitment or with employment and health-related problems. 4. Families of OFW Returnees, Returning OFWs and Distressed OFW Returnees. It also requires tapping the OFW sector to ensure the effectiveness of the program, specifically the Federations of OFWs in Negros Occidental and Bacolod City. This will enable the organization to take part and if necessary, to assist its members in the realization of their dream of becoming entrepreneurs.

Statement of the Problem The Philippine Government through the National Reintegration Centre for OFWs encourages repatriated Overseas Filipino Workers and their families to become entrepreneurs and exporters and to avail themselves of the loans under the P2-Billion Reintegration Fund. The study plans to address as it continues to help more migrant Filipinos realize their dream of achieving a better quality of life for themselves and their families by making a leap towards entrepreneurship and thereby contribute to community development.

OFWs and their families however, face numerous challenges and issues in going into business venture, such as: 1. What are the steps to start a business? 2. What are the intricacies in preparing a business plan/feasibility study? 3. What are the skills and attributes that OFWs and their families need to positively respond to the challenges of running a business? 4. What happens if an OFW borrower fails to repay the loan? 5. What are the important factors which contribute towards successful Entrepreneurship? 6. Are OFWs and their families compelled to attend entrepreneurial training?

Theoretical Background There are over 10 million Overseas Filipino Workers performing various jobs abroad nurses, caregivers, teachers, engineers, seafarers, domestic and construction workers and entertainers and they have been called the countrys Modern Heroes, primarily because they help prop up the national economy through their remittances. In recognizing their contributions to keep the economy afloat, the government grants returning OFWs and their families, perks and benefits, including insurance coverage, scholarships for children, livelihood training, housing and business loans as well as providing them with incentives in becoming entrepreneurs and exporters. OFWs who wish to start or expand an existing business can avail of loan assistance without collateral under the 2Billion Pesos Reintegration Program, a joint venture loan project of the OWWA, LBP and DBP.

Objectives of the Study EFCONMAS has broadened its services thereby currently engaging in consulting services for OFWs and their families by motivating and guiding them to become successful entrepreneurs and exporters through wealth management. Specifically, EFCONMAS wishes to contribute to the Philippine social and economic development through empowerment of the OFW sector. Thus, it aims to achieve the following strategic objectives: 1. To equip OFWs and their families with the motivation, foundation and information necessary in their start up or in expanding their business venture. 2. To assist them in applying to avail of the OFW Reintegration Program, from beginning to end, including the necessary documentation and representations with government agencies involved, considering that most of the OFWs have no knowledge and exposure in this kind of endeavor. 3. To manage the firm with utmost integrity and emphasis on service quality and operating efficiency for the ultimate benefit of its existing clients including OFWs and their families.

Research Methodology The research is composed of two parts: 1. Preliminary data gathering using the interview method. Questionnaire is designed based on the objectives of the study. Interviews were conducted at the OWWA Office located at the 2nd Floor of Bacolod City Hall, Corner Luzuriaga and Araneta Streets, Bacolod City where OFWs gather together for the purpose of processing their documents.

2. Focused Discussion with Ms. Sally S. Barrios, President of Federation of OFWs in Negros Occidental at the 2nd Floor of Bacolod City Hall, Corner Luzuriaga and Araneta Streets, Bacolod City and with Mr. Samuel S. Madrid, Regional Director, OWWARWO6, at his office located at Room 206, AJL Building, General Luna Street, Iloilo City on matters concerning the 2Billion Pesos Reintegration Fund.

Significance of the Study The findings, interpretations and recommendations of this study would be significant to the proponent in addressing the social problems brought about by the separation of the Overseas Filipino Workers and their families. The trend tells us that there is an increasing number of

Filipinos interested to learn about Entrepreneurship. Micro, Small, & Medium Business Enterprise is actively promoted by the Philippine Government aiming particularly to motivate Overseas Filipino Workers to start their own businesses. An example of such initiative was the launching of the OFW 2Billion Pesos Reintegration Program project. This project is consistent with 1995 Migrant Workers Law and aims to support OFWs in their entrepreneurial dream.

Scope and Limitations of the Study This study focused on assisting migrant Filipinos realize their dream of achieving a better quality of life for themselves and their families by making a leap towards entrepreneurship and thereby contribute to community development.

The researcher has been confronted with a certain degree of hesitation among respondents in sharing personal information with strangers. He encountered this difficulty in filling up the survey questionnaire. Aside from the possibility that respondents hesitate to share information about personal circumstance, it is also possible that the respondent simply lacks the ability to comprehend or just refuses to cooperate in giving data or information. There were attempts at managing this difficulty by integrating several validation questions, by assisting the respondents in recalling information and by assuring them about confidentiality.

Chapter 2

ORGANIZATIONAL STRUCTURE Company Description EFFICACY CONSULTANCY & MANAGEMENT SERVICES, established in 2010 by a retired bank manager, focused its primary consulting services in the three areas of management consultancy. It has an extensive experience in the handling of formation, incorporation and registration of business according to asset size and category, line and type of ownership, BIR compliance and business loan packaging with feasibility study, among others. EFCONMAS is utilizing a network of qualified and knowledgeable management consultants to meet the needs of any size or type of organization.

Vision EFCONMAS seeks to deliver quality consulting services to its clients with fast, effective and measurable results.

Mission Our mission is to provide comprehensive business consulting and management services to any/all lines and types of business.

Organizational Chart

General Manager

Administrative Assistant

Accountant

Cashier

Management Consultants

Job Specification and Description General Manager

The primary responsibility of the manager is to lead the business in achieving its goals, visions and objectives. He oversees and ensures the smooth flow of day-to-day operation of the business. He is responsible of identifying problems, making decisions, giving recommendations and providing courses of actions in different situations. He also takes charge of hiring employees and evaluating their performance. Administrative Assistant

The Administrative Assistant is in charge of general office administration and correspondence. He organizes and controls local payments and bank accounts, assists with the preparation and execution of legal documentation and manages the documentation management system.

Accountant

The primary responsibility of the Accountant is to handle, prepare, examine, and analyse its accounting records, financial statements and other financial reports to assess accuracy, completeness and conformance to reporting and procedural standards. He computes taxes owed and prepares tax returns, ensuring compliance with payment reporting and other tax requirements. He keeps the ledgers organized to assess the financial health of a company. He reports to management regarding the finances of the Firm. Cashier

The primary responsibilities of the cashier are to receive cash and give change to customers. He also has to keep record of cash receipts and disbursements from the time the office opens until it closes. Management Consultants

They are involved in providing objective advice, expertise and specialist skills with the aim of creating value, maximising growth or improving the business performance of their clients. The day-to-day activities of management consultants are often complex and varied. Consultancy is essentially entrepreneurial in nature and project-based. Projects can vary in length depending on the type of consultancy, firm and demand of the client.

Consultancy Fees EFCONMAS sets Consultancy/Management Fees for the Project, such as: Type of Services Business Registration with Department of Trade and Industry Business Incorporation with Securities and Exchange Commission Business Formation Mayors Permit, SSS, PAG-IBIG, PHILHEALTH and BIR Compliance Management Services Processes/Claims with SSS, GSIS, etc. Land Titling/Ownership Transfer Amount P 5,000.00 P15,000.00 P10,000.00 P10,000.00 P 5,000.00 P10,000.00

Contractors Licence Application with Philippine Contractors P20,000.00 Accreditation Board Business Loan Packaging with Business Plan/Feasibility Study 3% - Above P1M 5% - Below P1M

Cost Estimates in Doing Business in Bacolod City Below are the estimated expenses involved in doing Business in Bacolod City: Name of Agency Department of Trade and Industry Registration Fee of Business Name (City/Municipality) Documentary Stamp City Government of Bacolod Notarial Fee Barangay Business Clearance Fee Fire Safety Inspection Fee Mayors Permit (Capitalization P600,000.00) Social Security System Payment of One (1) Employee with P6,000 monthly salary Philippine Health Insurance Corporation Payment of one (1) Employee (Employer Share) Amount

500.00 15.00 50.00 300.00 288.00 4,256.25 624.00 100.00

P P

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Pag-IBIG Fund Notarial Fee Payment of one (1) Employee (Employer Share) Bureau of Internal Revenue Registration Fee to get Certificate of Registration Documentary Stamp Purchase of five (5) books of accounts at P35.00 each Cost of Printing of Official Receipts (20 stubs) Add: Miscellaneous Transportation Fare/Meals GRAND TOTAL

P 100.00 100.00 P 500.00 15.00 175.00 1,500.00

526.75 P8,550.00

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Chapter 3

2BILLION PESOS OFW REINTEGRATION PROGRAM (OFW-RP) The OFW Reintegration Program is one of the social services and family welfare assistance being offered by OWWA. This is intended for those returning OFWs and their family to reintegrate to the mainstream of the Philippine society. Under this program, OWWA provides values re-education and livelihood assistance. The said program is a special loan package of the Overseas Workers Welfare Administration (OWWA) in partnership with the Development Bank of the Philippines (DBP) and the Land Bank of the Philippines (LBP). It is intended to support enterprises development among OFWs and their families. Guidelines on availment of 2Billion Pesos OFW Reintegration Fund: Eligibility of OFW Borrower OFWs who are active or former members of OWWA who want to avail of business loans under the OFW-RP are required to complete entrepreneurial development training conducted by National Reintegration Center for OFW and OWWA RWOs in cooperation with the Department of Trade and Industry and its training arm, the Philippine Trade Training Center. The eligible projects that will generate a net monthly income of not less than P10,000.00 under the program are focused in industries such as franchising, tourism and related industries, health care and allied industries and agribusiness and related businesses. The loanable amount ranges from a minimum of P300,000.00 to a maximum of P2,000,000.00 with an interest rate of 7.5% per annum, fixed for the term of the loan based on diminishing balance.

12

For short term loan, maturity is for a maximum of one year while for long term loan, the maturity is up to seven years inclusive of two years grace period.

DBPs financing facility to OFW-entrepreneurs The state-owned Development Bank of the Philippines has set up a financing facility called the OFW Reintegration Program to provide loans and other financial products to overseas-based Filipinos and their families. An OFW could apply for a loan equivalent to 80 per cent of the cost of a business venture while the remaining 20 per cent is the equity of the borrower. DBP Documentary Requirements (If Applicable) 1. Application Form (DBP Form) 2. Proof of OWWA Membership 3. Business Registration Certificate (From DTI/SEC/CDA/DOLE) 4. Business Permit (From Local Government Units) 5. Business Plan (DBP Form) 6. Income Tax Returns for the past three (3) years 7. Financial Statements for the last three (3) years 8. Statement of Assets, Liabilities and Net Worth of Principal Borrower/s 9. Bank Statement for at least 3 months 10. By-Laws and Articles of Incorporation/Cooperation (in case of corporation and cooperative) 11. Board Resolution and Secretarys Certificate authorizing the loan, indicating the authorized signatories (in case of corporation and cooperative)

13

12. Other required documents Additional Documentary Requirements (If Applicable) Real Estate/Security 1. Two copies of Location Map/Vicinity Map 2. Two copies of Transfer Certificate of Title/Original Certificate of Title 3. Latest Real Estate Tax Declaration and Tax Receipt Chattel Mortgage 1. Affidavit of Ownership and Certificate of Non-Encumbrance with Specification 2. Supplies Quotations complete with technical specifications, for machinery and equipment. 3. Contract to Sell, for machinery and equipment to be acquired 4. Copy of OR/CR for transportation equipment Building to be constructed 1. Bill of Materials and Cost Estimates 2. Building Plan and Specifications 3. Building Permit, to be submitted before construction The following may be contacted for additional information: Aldwin Christian B. Yam acbyam@dbp.ph Leopoldo A. Resmundo, Jr. ljaresmundo@dbp.ph

Telephone Numbers (02) 812-5703; (02) 818-9511 local 2332

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LBPs financing program for Overseas Filipino Workers Among the industries that Land Bank of the Philippines prioritizes are working capital requirements for businesses in palay and rice trading, hog raising and fattening, agri-vet and poultry supplies, construction supply, trucking, transport, general merchandise trading, egg production, crop production, grocery and service contracting, among others. The borrower's equity should be 20% of the total project cost. Maximum loan is 80% of the total project cost. LBPs processing requirements: 1. OWWA certification that borrower is a bonafide overseas worker, has completed Enterprise Development Training and has credit history (if any) 2. A specific project that will generate income for the OFW and his/her family 3. With contract growing agreement, purchase order or service contract 4. Certificate of Registration with DTI/SEC 5. Bio-data of applicant 6. Mayor's Permit 7. Income Tax Return (last three years) 8. Financial Statements (last three years, BIR-filed), if applicable 9. Latest Interim Financial Statement, if applicable 10. Statement of Assets and Liabilities To be contacted for further information and/or assistance: LANDBANK Program Management Department II 28th Floor, LANDBANK Plaza 1598 M.H. del Pilar cor. Dr. Quintos Sts., Malate, Manila Telephone Numbers: 522-0000; 551-2200, Locals 7640, 2448, 2650

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Chapter 4

FORMATION, INCORPORATION AND BUSINESS REGISTRATION EFCONMAS has an extensive experience in the handling of formation, incorporation and registration of business according to asset size and category and line and type of ownership fast, effective and measurable results under reasonable fees. An enterprise, either big or small has to be registered first with the Department of Trade and Industry (DTI) in the case of Single Proprietorship or with the Securities and Exchange Commission for Partnership and Corporation before processing its Mayors Permit coupled with the registration with the Social Security System, PHILHEALTH, PAG-IBIG Fund and the Bureau of Internal Revenue. OFWs becoming as entrepreneurs have to undergo the necessary steps towards acquiring a legitimate business entity as well as operating within the bounds of law. It is in this light that EFCONMAS provides its expertise in giving assistance to OFWs in the formation, incorporation and registration, such as:

Registering with the Department of Trade and Industry (DTI) By registering your business name with the DTI, a business owner is assured that no other entity may legally use its business name anywhere in the Philippines. The registration of business name could be done in any DTI Provincial Offices nationwide by filling up and signing the application form and payment of the prescribed fees and documentary stamp tax. The applicant should be at least eighteen years of age and shall submit photocopy of valid identification card.

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Registering with the Securities and Exchange Commission (SEC) OFWs that will be forming a corporation either stock or non-stock shall be not less than five and not more than fifteen incorporators. The first step is to register the preferred corporate name with the SEC Office by filling up the verification of name and payment of prescribed fees. The express lane form for the Articles of Incorporation and By-Laws shall be accomplished stating among others the names, complete address, Community

Tax Certificate and Tax Identification Number of the Incorporators including the authorized, subscribed and capital stocks, then, it shall be forwarded to a Notary Public for notarization. A company applying for incorporation must open a Treasurer-In-Trust Account with its preferred bank that will serve as the temporary depository account of the required paid-up capital of the corporation. The bank will issue a certificate of deposit which is among the documentary requirements to be submitted to the SEC. Once the documentary requirements, such as Name Reservation and Payment Form, Notarized Articles of Incorporation and By-Laws, Treasurers Affidavit and Bank Certificate of Deposit are complete, the application for registration may be submitted to the SEC Office for processing and approval. At present, SEC registration approval takes one day at most.

Registering with Local Government Units All businesses, whatever the legal form, are required to secure a mayors permit or municipal license from the city or municipality where they are located. Various cities and municipalities have different registration procedures, but the following steps prescribed in Bacolod City would be typical:

17

1. Go to the Business Permit and Licensing Office of Bacolod City New Government Center. Secure an application form from the Public Assistance Office. 2. Submit three copies of the form together with a simple sketch of your business location. Support application with a Certificate of Business Name Registration from the DTI if you are using a firm name. A partnership or corporation must submit the corresponding Articles of Partnership or Incorporation and By-Laws duly registered with the SEC, together with a photocopy of the Certificate of Registration with the SEC. 3. Proceed to the City Treasurers Office for any payments to be made. Issuance of Mayors Permit and License Plate shall take 2 to 3 days.

Registering with the Cooperative Development Authority (CDA) All cooperatives are required to register with the CDA as per Republic Act 6938/6939. Steps: 1. Submit four copies of the Articles of Cooperation. 2. Submit four copies of the By-Laws. 3. Submit four copies of the Economic Survey (feasibility study). 4. Submit Bond of Accountable Officers (Fidelity, Cash or Surety). 5. Capitalization should not be lower than P2,000.00 (depending on the activities registered). 6. At least 15 members are required.

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Registering with the Social Security System (SSS) An employer or any person who uses the services of another person in business, trade, industry or any undertaking must be registered with the SSS. Social, civic, professional,

charitable and other non-profit organizations which hire the services of employees are considered employers. Single Proprietorship - An owner of a single proprietorship business may accomplish and submit SSS Forms R-1 (Employers Data Record) and R-1A (Initial or Subsequent List of Employees). Partnership - Any of the partners of a partnership firm should accomplish SSS Forms R-1 and R-1A and submit these forms together with a photocopy of the Articles of Partnership. The original copy of the Articles of Partnership must be presented for authentication. Corporation - A corporation must accomplish SSS Forms R-1 and R-1A signed by its President or any of the corporate officers or incorporators. Submit these forms together with the photocopy of the Articles of Incorporation. The original copy of the Articles of Incorporation must be presented to the SSS for authentication.

Registering with the Philippine Health Insurance Corporation All government and private sector employees are required to register with PhilHealth to enable them to provide social health insurance coverage to their employees. The procedures and requirements for Private Sector are to submit the following at any PhilHealth Office: Employer Data Record or ER1 Form in duplicate. Business permit/license to operate and/or any of the following:

19

o DTI Registration Certificate for Single Proprietorships o SEC Registration Certificate for Partnerships and Corporations o CDA Registration Certificate for Cooperatives

Registering with the Pag-IBIG Fund The procedures on the registration of Employers and its employees are to accomplish the Membership Registration Remittance Form (MRRF) and to submit two copies of the MRRF together with the following supporting documents: Members Data Form (MDF) of the employees DTI Registration and Mayors Permit for Single Proprietorships SEC Registration for Partnerships and Corporations

Lastly, pay the first monthly membership contributions of employees.

Registering with the Bureau of Internal Revenue (BIR) Every business enterprise has to register with the BIR for taxation purposes. Below are the steps to follow: 1. Secure a permanent record file number of Tax Identification Number (TIN) from any BIR Offices nationwide. 2. Register the business/trade name at the nearest BIR office. application form, together with supporting papers, as follows: Mayors permit Certificate of Business Name Registration from the DTI Articles of Partnership or Corporation Secure and file an

20

 Community Tax Certificate 3. Secure authority to print books of account, invoices, receipts, and other accounting records by filling up four copies of an application form. Attach four draft copies of the material to be printed as well as a copy of the job order. 4. Register book of accounts, invoices, receipts, etc.

Registering with the Department of Labor and Employment (DOLE) Business establishments with five or more employees are encouraged to register with DOLE, the agency which monitors compliance with labor laws. Registration is mandatory for firms which employ 50 or more workers. The Bureau of Local Employment administers the registration of establishments. To register, secure and fill up a registration form. Corporations are required to attach a photocopy of the SEC Certificate of Registration.

Registering with other Agencies Depending on the type of products they manufacture or handle and on their market orientation, certain firms are required by law to register with other government agencies. Bureau of Foods and Drugs (BFAD) National Food Authority (NFA) Bureau of Fisheries and Aquatic Resources (BFAR) Intellectual Property Philippines (IP Philippines) For manufacturers of drugs, cosmetics and food products For rice, corn and flour dealers For those engaged in the export of fish and fish products and other aquatic products For firms wishing to register patents and trademarks

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The Philippine Business Registry The Philippines Business Registry (PBR) is a Government-initiated project that will facilitate business registration-related transactions by integrating all agencies involved in business registration, such as the Department of Trade and Industry, Securities and Exchange Commission, Cooperative Development Authority, Bureau of Internal Revenue, Social Security System, Home Development Mutual Fund, Philippine Health Insurance Corporation, Local Government Units and other permit/license-issuing agencies. It shall provide a faster process for business registration, thus strengthening the governments effort of providing quality service to the people and realizing its commitment to curb corruption and reduce red tape in the bureaucracy. In particular, it is a web-based system that shall serve as a one-stop shop for entrepreneurs who need to transact with several agencies to be able to start operating a business. Each of the agencies computerized registration systems will be interlinked so that applicants need not physically go to each agency to register their businesses. At present, sole proprietorships can already validate existing and/or register their Business Names from the DTI, get or validate their existing Tax Identification Numbers from the BIR and employer registration numbers from the Social Security System, Philippine Health Insurance Corporation and Home Development Mutual Fund through the PBR system. Sole proprietors may opt to apply from computer cafs or their homes/office using their PCs with internet connection or go to computer cafs or DTI Offices with designated PBR Kiosks or tellers and register through them. Application through a teller will involve submission of a filled up application form which may be downloaded from the website or completed and printed by the public online for submission to the PBR kiosks or tellers.

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Chapter 5

MARKETING ASPECT Market Analysis Summary EFCONMAS is blessed with the opportunity to be the first consulting firm in the whole province of Negros Occidental including Bacolod City which is engaged in providing assistance to OFWs to avail of the 2Billion Pesos Reintegration Program of OWWA in partnership with DBP and LBP.

Target Market Segment Strategy It targets to capture customers who are identified as OFW Returnees those who have decided to return to the Philippines permanently; Returning OFWs those who have returned but still desire to leave for overseas employment; Distressed OFW Returnees those victims of human trafficking, illegal recruitment or with employment and health-related problems; and Families of OFW Returnees, Returning OFWs and Distressed OFW Returnees. These OFWs will discover and realize the financial opportunities beyond working abroad as well as unveil their personal capabilities to establish and manage their own business. EFCONMAS will provide a positive business atmosphere in offering a lot of services to satisfy customers (OFWs) needs and to accept suggestions and criticisms to improve its business. The firm will observe honesty and credibility in its delivery of products and services. It will be always open-minded to any future competitor and will seek to offer only the best consultancy services.

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EFCONMAS is already exposed in providing assistance to customers by way of loan packaging. This is because it is managed by a retired bank manager whose nineteen (19) years of bank exposure has greatly helped in providing efficient services to clients/customers. Also, the firm has maintained good relationship with government agencies thereby promoting a smooth and fast processing of transactions for the clients/customers. EFCONMAS satisfied customers cannot help but resort to word-of-mouth marketing (WOMM) to others, as to the efficiency and smooth-sailing flow of processing their transactions wherein the firm has acquired a certain level of confidence from clients/customers. With the new set up, EFCONMAS will be promoting its consultancy services especially to OFWs via on-line marketing, social media or internet such exchanges in facebook and twitter accounts and other information drive thru brochures, flyers and classified ads aside from the word-of-mouth marketing or advertising which is the most effective form of promotion. Below is a monthly marketing budget estimates for the different types of promotional strategies: Promotional Strategies Advertising Publicity Networking Events/Sponsorships Brochure/Flyers/Referrals Telemarketing/On-line Marketing Business Cards TOTAL % of Marketing Budget 25.00% 16.67% 16.67% 16.67% 16.66% 8.33% 100.00% Estimated Cost P1,500.00 1,000.00 1,000.00 1,000.00 1,000.00 500.00 P6,000.00

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Market Needs Factors such as government recognition for OFWs contribution to national economy as well as the employment and income to be derived from OFWs and/or their families business venture by availing of the OWWA P2Billion Reintegration Program, ensure that OFWs

becoming as entrepreneurs will grow in number for the succeeding five (5) years. EFCONMAS envisioned that once an OFW takes a leap into becoming an entrepreneur, many others will follow. This would warrant a tremendous growth of OFW entrepreneurs and maybe for the next five (5) years, the government would consider increasing the existing P2Billion Reintegration Fund so as to serve more OFWs, who, by that time, may have already expanded their business. The data below present an overview of EFCONMAS Strengths and Weaknesses of business consulting in the internal aspects of the firm and the Opportunities and Threats from external sources: Strengths Manned by competent consultants with vast experience in the fields of banking, lending, legal, business formation, Weaknesses 7 out of 10 Overseas Filipino Workers (OFWs) are not risk takers, preferring to rely on fixed income rather than start up or invest in business venture. Lack of Local Government Unit

incorporation and registration. The only Consultancy and Management Services in the Province of Negros Occidental and Bacolod City that caters the needs of repatriated Overseas Filipino Workers.

participation in assisting, promoting and convincing OFWs to become entrepreneurs.

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Equipped with in-house talents capable to carry out its service commitments to clients/customers.

Mismatch of skills and education of returning OFWs with regards to their preferred line of business venture.

Delivering

value

high

quality,

Lack of awareness on the part of returning OFWs on OWWAs

sustainable and reliable consulting services at minimal fee rates.

P2Billion Reintegration Program.

Opportunities Responsive for servicing the needs and wants of returning OFWs towards entrepreneurial activities. Engage the services of a returning/ retired OFW for consultations, having access to a group or association of OFWs. OFWs Entrepreneurship could spur local development and contributes to employment & income generation

Threats DBP and Land Bank documentary loan requirements are too stringent. Entrepreneurial Development Training as a pre-requisite for availing of the P2Billion Reintegration Fund is to be conducted by the National

Reintegration Center for OFWs in Manila and/or OWWA-Regional

Welfare Office in Iloilo City. Professional and capable retired/

within the local government unit it operates.

returning OFWs can set up their own consultancy firm to cater their

comrades or fellow OFWs.

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Organize business

networking expositions

activities for

or

OWWAs

P2Billion

Reintegration

returning

Program may not prove successful due to non-payment may of loans to and stop

OFWs here in the Province of Negros Occidental and Bacolod City as well as neighbouring cities and provinces.

government

decide

providing fund.

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Chapter 6

CONCLUSION AND RECOMMENDATION

Conclusion Through the OFW Reintegration Program, the Philippine Government in partnership with the Development Bank of the Philippines and the Land Bank of the Philippines shall be able to nurture into the minds of the Overseas Filipino Workers and their families a culture of savings, investment and entrepreneurship, along with the values of honesty, discipline and hard work necessary for poverty reduction and economic empowerment of the community OFWs belong.

Recommendation Considering that the two government financial institutions are already saddled by problems on their commercial and other loans, it is recommended that part of the OFW Reintegration Fund shall be coursed through the Rural Banks for easy facilitation of OFWs loan application. How about putting up an OFW Bank? Who knows?

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References

www.dti.gov.ph www.sec.gov.ph www.bacolodcity.gov.ph www.bir.gov.ph www.sss.gov.ph www.philhealth.gov.ph www.pagibigfund.gov.ph www.owwa.gov.ph www.nrco.gov.ph www.business.gov.ph www.ivythesis.com www.pia.gov.ph www.gonegosyo.net ABS-CBNnews.com www.dbp.gov.ph www.lbp.gov.ph

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APPENDICES

30

LETTER TO MR. SAMUEL S. MADRID, OWWA RWO 6 REGIONAL DIRECTOR

31

QUESTIONNAIRE ON OFWs TOWARDS ENTREPRENEURSHIP Part I. The Participant Name (Optional): ________________________________________________________ Participant Category: Doctor Physical Therapist Nurse Accountant IT Professional Engineer Architect Entertainer Technician Teacher Military Serviceman Seafarer Caregiver Domestic Helper Household Helper Monthly Salary Scale: ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) 10K - 30K 31K - 50K 51K - 70K 71K - 100K More than 100K

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Part II. The Questionnaire Please check the appropriate box provided for each number which best represents your analysis of the possibility and capability of OFWs into becoming entrepreneurs, as follows: 5 4 3 2 1 FINANCIAL CAPABILITY Items Not a breadwinner of the Family Has Savings Consciousness Remittance Education, services spends to medical/dental Very High (5) High (4) Average (3) Low (2) Very Low (1) Very High High Average Low Very Low

BUSINESS SENSE Items Very High (5) High (4) Average (3) Low (2) Very Low (1)

Has desire to go into business Risk Taker Hardworking person

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BROCHURE OF 2BILLION PESOS OFW REINTEGRATION PROGRAM

34

OWWAS PRIMER ON PROGRAMS AND SERVICES

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DTI CERTIFICATE

ST. MATTHEW AVENUE, DOA JULIANA SUBDIVISION, BRGY. TACULING, BACOLOD CITY

DARWIN D. DESTACAMENTO

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APPLICATION FORM FOR BUSINESS NAME

37

DTI CERTIFICATE: SILVERGRACES CONSTRUCTION AND CONSTRUCTION SUPPLY

38

MAYORS PERMIT: SILVERGRACES CONSTRUCTION & CONSTRUCTION SUPPLY

39

SSS EMPLOYER REGISTRATION: SILVERGRACES CONSTRUCTION & CONSTRUCTION SUPPLY

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PHILHEALTH EMPLOYERS DATA RECORD: SILVERGRACES CONSTRUCTION & CONSTRUCTION SUPPLY

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PAG-IBIG CLEARANCE: SILVERGRACES CONSTRUCTION AND CONSTRUCTION SUPPLY

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BIR CERTIFICATE OF REGISTRATION: SILVERGRACES CONSTRUCTION AND CONSTRUCTION SUPPLY

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APPLICATION FORM FOR MULTI REGISTRATION

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SAMPLE OF S.E.C. CERTIFICATE

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COST OF DOING BUSINESS IN THE PHILIPPINES

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SAMPLE OF PCAB CONTRACTORS LICENSE

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DARWIN D. DESTACAMENTO
St. Matthew Avenue, Dona Juliana Subdivision Brgy.Taculing, Bacolod City Mobile Phone Nos. 09272890440 / 09392888903 / 09238297653 Email: darwindestacamento@yahoo.com PROFILE Dynamic freelance Documentation Consultant specializing on Loans, Licensing and Real Estate seeking opportunity in a challenging environment; An experienced banker for 20 years; Coveted an Award as Most Outstanding Bank Employee of the Year; and Self - motivated and hardworking individual with good accounting background. EDUCATIONAL ATTAINMENTS 1977 University of Negros Occidental Recoletos Master in Business Administration (37 units) 1973 Binalbagan Catholic College Bachelor of Science in Commerce Major in Accounting PERSONAL DATA Date of Birth Place of Birth Name of Wife Name of Children March 3, 1953 Binalbagan, Negros Occidental Ma. Cecilia Bordon Destacamento, C.P.A. Karen D. Catubig, C.P.A. Kathy D. Taleon

SEMINARS/TRAININGS ATTENDED: Attended 14th Advanced Bank Management Program (ABMP) for Branch Managers of Philippine National Bank from April 8, 1991 to May 17, 1991 at the Asian Institute of Management (AIM), Makati City. Team Awards Received: 1. First Place, Service Quality 2. First Place, Situation Analysis, Problem Analysis, Decision Analysis and Potential Analysis (SAPADAPPA) On-the-Job Training in PNB Singapore Branch and PNB Hongkong Branch in the year 1991 for seven days each.
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Philippine Delegate to the 2nd Asian Chess Team Tournament in Hongkong in 1980 with 100% performance. PROJECTS: EFFICACY CONSULTANCY & MANAGEMENT SERVICES (Documentation Consultant Loans, Licensing and Real Estate July 2010 Present) CLIENTS: 1) BIG JOES ENTERPRISES 2) SBK CONSTRUCTION SUPPLIES AND SERVICES 3) BACGEM-Bacolod City Government Employees MPC 4) HIGEM-Hinigaran Government Employees MPC Responsibilities: Prepare documents such as representation contracts, purchase agreements, closing statements, deeds and leases. Prepare and complete document package needed for regulatory license renewal. Conduct clients seminar on loan processing and requirements of commercial banks and government agencies. Review plans for new construction with clients, enumerating and recommending available options and features. Evaluate mortgage options to help clients obtain financing at the best prevailing rates and terms. Prepare project feasibility study to give clients clear evaluation of the potential for sales and profit of a particular commercial business or real estate project. WORKING EXPERIENCES JARMONT REALTY CORPORATION Brgy Vista Alegre, Bacolod City, Philippines Marketing Manager November 2009 June 2010 Responsibilities: Responsible for leading marketing campaigns that drive real estate sales and educate clients about firm's products and services. Plan, develop and execute marketing programs such as direct mailings, social media campaigns, client seminars, and publicity events. Prepare and coordinate materials for real estate trade shows and promotional activities targeting real estate funds, developers, investors, home builders and owners.

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Responsible in creating sales collateral, overseeing their department's budget, administering their company's client database and managing junior-level marketing personnel.

KWIKBUILT CONSTRUCTION Burgos-Sta. Fe Road, Villa Soledad Subdivision, BrgyEstafania Bacolod City, Philippines Loan Documentation Consultant April 2005 October 2009 Responsibilities: Responsible for preparing commercial loan documents that accurately represent the loan commitment and terms offered to the borrowers. Work from the loan offering, commitment letter or approval memo to select required documents. Depending upon type of transaction, documents may include promissory notes, mortgages, guarantees, assignments, security agreements, modifications, amendments, etc. Prepare Project Studies on Land Development and Housing Construction for Cooperatives in Bacolod City and Negros Occidental. SUPREME ABF CONSTRUCTION & CONTRUCTION SUPPLY, INC. Sterling St., Lizares Subdivision, Brgy.Taculing Bacolod City, Philippines PROJECT ACCOUNTANT April 1996 March 2005 Responsibilities: Responsible for the processing, reviewing and tracking and general ledger posting of construction draws for multiple projects. Communicate with project managers, vendors, and external parties to manage draw requests/requirements. Communicate with external clients and lenders to manage funding and draw requests, provide timely responses to questions and inquiries. Calculate and invoice general contracting fees and allocate payroll to projects. Responsible for Construction accounts receivable tracking, management, and reporting. Assist in the development/enhancement of project reporting. Interface with Project Managers and senior management on all aspects of construction accounting.

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PHILIPPINE NATIONAL BANK PNB Financial Center, Pres. DiosdadoMacapagal Blvd., Pasay City Manila, Philippines Bank Department Manager October 1990 January 1995 Responsibilities: Responsible for the administration and efficient daily operation of a full service branch office, including operations, lending, product sales, customer service, and security and safety in accordance with the Bank's objectives. Develops new deposit and loan business. Provides a superior level of customer relations and promotes the sales and service culture through coaching, guidance and staff motivation. Achieves individual and branch sales goals through new business sales, referrals and retention of account relationships. Responsible for attaining established Bank and branch goals through active participation in sales management and officer call programs. Participates in community/government affairs to increase the Bank's visibility and to enhance new and existing business opportunities. Achievements as Bank Department Manager: Remarkable increase of branch total deposits from Php 67Million to Php 141Million or 52.03%. Loans collection rate 90% to 95% in the socialized program offered by Philippine National Bank to vendors in key municipalities and cities of Southern Negros Occidental, Philippines. 99% collection performance for the salary loans extended to government employees and teachers. Branch Cashier July 1989 October 1990 Responsibilities: Responsible for a cash drawer and all of the functions that pertain to it. Balance cash drawers and do cash audits. Responsible for many of the bank's day-to-day routine and administrative jobs, working at the frontline to keep the branch running smoothly. Supervise the other tellers; assist if the tellers are not reconciled. Motivate the tellers and making sure that they are hitting their goals and objectives. Train other tellers on how to operate the cash drawers and lead instructions to provide a good customer service. Communicate with customers, tellers and manager on a daily basis. Responsible in replenishing the automated teller machines and transferring money to the vault. Market and sell financial products and services to customers.
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Bank Loans Officer September 1983 June 1989 Responsibilities: Function as the liaison or intermediary between an institution that provides personal and business loans to consumers and the applicants for a loan. Seek to find a loan arrangement that is in the best interests of both the applicant and the bank or financial institution that has extended the loan. Evaluate and review the loan applicants financial condition, credit reports, income and collateral. Responsible for checking, sorting and compiling data relevant to loan applications. Perform estimation of liabilities as well as the assets relevant for processing customers' loan applications. Ensure that the loan application forms have the right information. Bank Administrative Assistant October 1980 August 1983 Responsibilities: Create and analyse management information and reports, which are sent to branch staff and also to the head office. Responsible for keeping track of records related to company's employees. Assist with employee relations and company employee communication. Ensure branch-wide committee facilitation and participation. Promote employee-oriented company culture that emphasizes quality, continuous improvement, and high performance. Bank Clerk September 1975 September 1980 Responsibilities: Open and close accounts and answer questions for customers Record interest due to savings account customers, as well as the interest owed to the bank on loans and other investments Sort and record information about loans Responsible for preparing the monthly balance sheets of checking account customer Record, file, and maintain stocks, bonds, and other investment certificates. Also keep track of dividends and interest on these certificates.

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