Go Negosyo Launches ‘Balik-Bayan 2024’ to Empower OFWs Through Entrepreneurship

Many Filipinos dream of working abroad to secure a better future. While overseas employment offers lucrative opportunities, the reality of returning home can be a sobering one. Despite significant savings, many OFWs find it challenging to sustain a comfortable lifestyle in the Philippines.

An event was arranged by the nonprofit Go Negosyo to inspire overseas Filipino workers (OFWs) to start their own businesses in the nation.

Joey Concepcion, the creator of Go Negosyo, stated that "Balik-Bayan 2024," which will take place in the SM Mall of Asia in Pasay City on December 7, will begin.

"Balik-Bayan is a platform to provide business opportunities and foster investment matches for OFWs, encouraging them toward entrepreneurship and ensuring that their hard work and resources are put to productive and profitable use," Concepcion said in a statement.

The honoring and acknowledgment of OFWs who founded their own companies, whether abroad or in the Philippines, will be one of the events' activities.

"I would like to think that Balik-Bayan extends beyond the usual Tagalog term that is used to refer to overseas Filipinos returning to their homeland," Concepcion said.

"It is also a call for our expatriates to give back to the country — mag-balik sa bayan — by sharing their knowledge and resources with their countrymen and contributing to the progress of our nation," he added.

Agripreneurs, restaurant owners, health and beauty entrepreneurs, and creatives are among the unique categories in which the 2024 Inspiring Balik-Bayan Awards honor the accomplishments of OFWs and their families. The awards ceremony, which will include talks with business executives, motivational talks, and complimentary on-site mentorships, will take place during Balik-Bayan 2024. Candidates must be at least eighteen years old and provide documentation of their financial records, profile, and business registration. Entries must be submitted by November 20.