P.5M awaits seafarers in NCRO's Business Plan Competition

TUGUEGARAO CITY, Cagayan, Aug. 30 (PIA) – Returning seafarers and their families with business inclination can become entrepreneurs and win P500,000.00 in the 2019 Business Plan Competition of the National Reintegration Center for OFWs (NRCO) in partnership with the  Integrated Seafarers of the Philippines (ISP).

The project dubbed as ‘‘From Seafarers to Entrepreneurs: The 2017 NRCO-ISP Business Plan Competition” (Harnessing Seafarers’ Capacities for Business Enterprises Development), was launched in 2017 that aims to encourage seafarers especially those who are planning to retire to become entrepreneurs.

It is open to active seafarers preferably those who are planning to retire from sea life and inactive seafarers, who have been in the Philippines for not more than five years.

The Screening and Evaluation Committee will evaluate the entries to choose the Top 10 business plans whih will later undergo mentoring to improve their business plans ready for the defense which is the final round of the competition.

Entries will be judged as to content of the plan including social business idea and purpose which accounts for 30 points,  impact on the community for 20 points, financial viability for 30 points and 10 points each for clarity and presentation of the business plan and drive and determination of the business plan owner entrepreneur.  

Qualified seafarers, who are currently on duty but are unable to attend the presentation and coordination activities related to the competition must have at least one official representative—an immediate family member—who will handle all the tasks and activities required in the competition.

All types of start-up business plans are welcome except for those that hailed from the idea of a franchising business, which means entries should be original.

Deadline of submission of entries will be on September 6, 2019. (MDCT/GVB/PIA 2-Cagayan)

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