Growth Strategies & Internationalization for SMEs: an introduction to the special issue

Abstract

The increasing market globalization and the consequent enlargement of the market boarders continues to provide a multitude of growth opportunities to small and medium enterprises (SMEs). These opportunities include but are not limited to the expansion abroad through internationalization strategies. They refer also to the innovation of business models triggered by the fact that the SMEs operate in global sectors, and they can utilize global innovations and digital technologies to compete. The joint pursuit of digitalization and internationalization has proven to be most powerful in facilitating the SMEs growth processes on a global scale. The advantages that accrue to SMEs from the usage of digital technologies go beyond the mere Internet and rest mainly in the possibility to create a deep relationship with international customers, for example through the usage of social networks. This does not necessarily imply that the firms operate in two or more locations through trade, investments, and alliances, since SMEs can keep their location in the home country, while expanding their market borders by serving international customers, developing the global power of the brand and the international corporate image. At the same time they have to face international competitors in their home country as well. … to be continued