Small Businesses as Multinational Companies: Overcoming Barriers and Finding Opportunities

Small businesses contribute significantly to most national economies. Given the importance of small businesses to the growth of national economies and to the increasing globalization of business, it is not surprising that small businesses seek opportunities outside their national boundaries just as their larger brothers and sisters do. When going international, small businesses can use the same participation strategies and multinational strategies available to larger businesses. Small businesses can also act like multi-domestic strategists in product adaptation or develop transnational networks for supply, manufacturing, and distribution. After reading this research you should be able to understand the basic definitions of small business and entrepreneurship; Explain how small businesses can begin as global start-ups or follow the stages of internationalization; Understand how small businesses can overcome barriers to internationalization; Identify when a small business or entrepreneur should consider going international; Understand how small businesses or entrepreneurs can find customers, partners; Understand how new venture wedge strategies can be used in foreign markets.