INTERNATIONALISATION OF SMALL AND MEDIUM SIZED ENTERPRISES - INSIGHTS FROM THE LITERATURE

Given their role and importance, small and medium-sized enterprises (SMEs) are the driving force in many economies. Researching their specificities is a basis for understanding their needs and possible levers that would enable their growth and development. The internationalisation of SMEs is a different process from the internationalisation of large companies and it is necessary to understand the specificities of this process. This paper reviews the literature in order to summarise the existing knowledge on the process of internationalisation of small and medium-sized enterprises. The aim of this paper is to provide a conceptual framework that offers a comprehensive overview of various important aspects of the internationalisation process. The proposed framework explains factors, barriers and possible approaches to SME internationalisation and provides guidance for future empirical research.