Remittances in Supporting Small Businesses in Punjab: Leading to Innovation and Business Development

Abstract

Remittances connect the destination countries with the source countries with the money transfers of migrant earnings. Remittances work as a developing source of income for regions such as Punjab. Remittances  provides  a source of capital to their families back home that is allowing the families to invest or start small businesses .The families in Punjab are setting up local businesses as restaurants, small manufacturing units or retail outlets with the encouragements to shift from traditional farming to diverse form of entrepreneurship contribution to job creation and more resilient local economy .The study adopted a qualitative data analysis approach with respondent entrepreneurs in both interviews ,focus discussions groups and questionnaire done with percentage method.Yet the human face of globalisation is the result of remittances .This paper overview  experiences of innovation and business development with remittances transfers by migrants  living and working abroad.Migrants are investing  in growing small businesses in Punjab .