ENTREPRENEURSHIP

Detailed explanation-1: -Four major factors emerged from the data to explain the internationalization. The four factors include owner manager’s international orientation, globalisation of the firm’s industry structure, established international networks, and foreign market potential.

Detailed explanation-2: -Rising costs and reduced revenue are one of the biggest challenges SMEs are facing. One million businesses agree and for different reasons. Some of these include inflation, cost of raw materials, insurance costs, low demand for products and services, and other general business costs.

Detailed explanation-3: -Note: In this policy brief, the term ‘internationalisation of SMEs’ refers to all activities that lead to a business relationship with a foreign partner: exports, imports, foreign direct investment (FDI-relocation or outsourcing), international subcontracting and international technical cooperation.