Businesses set up by OFW’s fail due to a number of reasons like lack of technical training and financial skills.Â
Moreover, OFWs tend to lend their hard earned money to relatives without thinking it over.Â According to the book “Weath within your reach” by Francisco Colayco, OFWs often assume that investments are sure shots while lending money is risky.Â
Before investing money (even with a trusted relative), always first assess if the proposal is sound and feasible.Â In investments, higher returns usually come with higher risks.Â Know the risks and not just focus on the returns.Â If it sounds too good to be true, chances are – they are.Â Â Â
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