Beware of fake overseas jobs posted on Facebook The Philippine Overseas Employment Administration (POEA) warned jobseekers about scammers advertising fake overseas job vacancies on Facebook and other online job sites. Fake Overseas Job Openings Advertised Online The POEA reported that many job applicants recently inquired about a public Facebook group “Now Hiring Work Abroad 2018” that advertised job offers for various positions in the United States, Canada, United Kingdom, Japan, New Zealand, Australia, and other countries. Readers of the Facebook ads were asked to email their resume to an online job site. The job offer included attractive benefits such as high salary, high overtime pay rate, paid vacation leave, free transportation, free food and accommodation, and more. But then applicants were also required to pay for processing fees for their visa or work permit. An applicant reportedly received an email informing him that his job application for the United Kingdom had been approved. But he was also asked to deposit the visa fee of Php9,800.00 to a Philippine bank account within 48 hours. The POEA cautions the public against accepting a job offers that ask for payment of fees for seminars and document processing. This is one sign that a job offer is a scam. Warning Signs of Fake Overseas Jobs Overseas job applicants need to be careful when dealing with recruiters. Aside from recruiters demanding payment of fees, here are other warning signs of job scams that applicants should be aware of: 1. Vague job details Scammers list vague job descriptions and job requirements. Usually, real job listings have clear job descriptions and exact job requirements. 2. Unprofessional emails Beware of emails containing glaring errors in spelling and grammar. Real companies will be represented by professionals who write well. 3. No company name and address, or emails sent using a personal account ​ See if the email has the company address and phone number shown in the contact details. And also if the email address used is the official company email. Scammers sometimes use an email address that looks like real companies. To verify, copy and paste the email address into the search box and see what comes up. How to Avoid Fake Overseas Jobs Here are tips on how to avoid being scammed when looking for an overseas job. 1. Do your research Before even replying to any job ad, research details about the job, the company you’re applying for, and also the recruiter that you’ll be directly dealing with. Find out how long the company and recruiter have been in business, and if there are any violations that they’ve been involved in. 2. Ask for references Ask recruiters for names and contact numbers of companies that they’re working with and persons that they have recruited. A trusted recruiter should be able to give out these details without hesitation. 3. Use trusted job sites Take note that there are scammers in job boards too. To avoid or at least reduce your chances of getting scammed, be selective in using job sites. Use trusted job sites, preferably those with privacy policies and allow verified job seekers and employers only to view job listings. 4. Get work permits Beware of job offers using tourists or visit visas. Make sure that you have the proper work permit or visa for the job you’re applying for. Verify with POEA Job seekers are advised to apply only with POEA-licensed recruitment agencies. Check the validity of job offers with the POEA through its verification system at ● poea.gov.ph ● hotlines 722-1144 and 722-1155, and ● the POEA mobile phone application (downloadable via Google Play or Apple’s App Store). Lawmakers Push for Lower Fees on OFW Remittances During last month’s celebration of Migrant Workers' Day, ACTS-OFW Partylist Representative ​ ​ Aniceto Bertiz III pleaded to banks to lower transfer fees imposed on OFW remittances. On average, overseas Filipino workers (OFWs) are charged 10.57% for every $100 that they remit. Bertiz wants this lowered to 5%. He argued that banks can still reduce remittance charges, noting that non-bank remittance centers are charging as low as 3% in fees. "Reducing the cost of bank remittance services to 5% would mean some $1.5 billion or P80.1 billion in cost-savings and extra money in the pockets of our migrant workers and their families every year," he stated. Slashing remittance fees would help ease OFWs’ financial struggles brought about by rising prices at home. The country’s inflation rate shot up to 5.2% while the peso hit the P53-to-$1 level in June. The latest inflation rate beat both government and market forecasts. The government’s inflation forecast was earlier set at 2% to 4% for 2018 to 2022. The inflation outlook for 2018 was later adjusted to 4% to 4.5%. The higher prices of goods offset OFWs’ gains from the increasing peso value of their foreign currency earnings. Remittance Numbers 2017 data from the Bangko Sentral ng Pilipinas (BSP) show that cash remittances coursed ​ through banks amounted to $28.1 billion while $4.9 billion was coursed through non-bank remittance centers. This shows that Filipinos still choose to remit money through banks. This despite the growing number of non-bank remittance centers, and the latter with fees as low as 3%. Cash remittances increased by 4.3%, while personal remittances grew by 5.3% to $31.29 billion, exceeding the government target of 4%. Remittance from OFWs is the country’s 2nd most significant source of foreign exchange. This is topped only by revenues from the business process outsourcing (BPO) industry. Last year’s personal remittances accounted for 10% of the country’s gross domestic product (GDP) and 8.3% of gross national income (GNI). Most of the cash remittances for 2017 came from the US, UAE, Saudi Arabia, Singapore, Japan, the UK, Qatar, Kuwait, Germany, and Hong Kong. Combined remittances from these countries amounted to almost 80% of total cash remittances for the year. The Philippines ranks as the world’s 3rd largest recipient of personal cash remittances, behind India and China. Bill to Protect OFW Remittances Meanwhile, Rep. Aurelio Gonzales Jr. of the 3rd District of Pampanga filed a bill to protect OFW remittances. House Bill 4740 recognizes the vital contribution of OFWs to the economy through their foreign ​ exchange remittances. It also notes that beneficiaries receive reduced amounts of remittances because of steep fees. Given these realities, the bill seeks to end the imposition of high remittance fees by limiting the amount charged to OFWs. It provides for discounts on remittance fees and gives tax incentives to establishments giving discounts to OFWs. The bill encourages establishments to grant loans to OFWs and directs government agencies to provide financial education to OFWs and their families. Franchising Opportunities in the Philippines Image source: Entrepreneur PH ​ Are you thinking of quitting your job to start your entrepreneurial journey? Consider opening a franchise business instead of starting a new business of your own. The Franchise Advantage Why a franchise? There are a lot of advantages to starting a franchise business. The best one is that it is generally accepted that franchises have a higher rate of success compared to startup ​ ​ businesses. Another is that you won’t be starting from scratch. A big chunk of the work of starting a business has already been done by the franchisor. You’ll be benefiting from the franchisor’s previous experience in running a business, and from a proven business system. Also, the franchisor will be your business partner. He will provide you with everything you need to start a business. This includes a complete business plan, franchise operations manual, site selection and evaluation, marketing assistance, research and development on new products and services, training support and continuing franchise advice. Here in the Philippines, there are plenty of franchise success stories. We are familiar with local companies like Jollibee, Mang Inasal, Greenwich, Potato Corner, Max’s Fried Chicken, as well as international franchises like McDonald's, KFC, Krispy Kreme, 7-11, etc. Finding Franchise Opportunities If you’re interested in finding out about the different franchise opportunities in the country, the websites of franchise associations are good starting points. Philippine Franchise Association The Philippine Franchise Association or PFA is the franchising sector’s governing body. It counts among its members small to large size businesses, and both local and international companies. The website has a members’ database listing each company’s contact information, total capital investment and fran​ chise fee requireme​ nts. Companies can be conveniently searched by sector (Food, Retail, and Service) or by investment level. Association of Filipino Franchisers Inc Another organization of franchisors is the Association of Filipino Franchisers Inc or AFFI. It’s composed of Filipino businesses pushing the local franchising industry in the global market. On its website is a Franchise Finder. There you can search by choosing your preferred industry: Food, Services,​ Retail, Health an​ d Beauty, Education, Automotive, Refilling, and Others. Franchise Expos Attending franchise expos is a great way to learn about different companies offering franchising opportunities. As an expo visitor, you get to talk to many company representatives in one place and time. You can personally ask about different franchise concepts. Visiting different booths lets you evaluate and compare the franchise offers. Franchise Asia Expo, the biggest franchise show in Asia, features local and international ​ franchise brands, with conferences and seminars presided by global industry experts. This year’s edition will be held on July 20-22 at the SMX Convention Center in Pasay City. The Entrepreneur and Franchise Expo (EFE) is a trade and consumer exhibition and netw​orking Event featuring networking ​ opportunities, product launches, contests and company presentations, and showcasing franchise businesses and small and medium enterprises (SMEs).