Internationalisation strategies for SME's in the decade ahead : are our theories relevant?

Purpose- To demonstrate that different theoretical approaches are required for the internationalisation of SME?s. Design/methodology/approach- A comparison is made of existing theories and approaches with the actual behaviour of SME?s findings-The internationalisation of SME?s requires different strategies based on approaches which are emic rather than etic and are holistic. This is required if SME?s are to compete effectively in both developing as well as developed overseas markets. Practical implications- SME?s must factor into their internationalisation strategies the specific requirements of each market with a focus on the potential consumer and adopt a portfolio approach to internationalisation spanning a number of such markets. Originality/value- The paper calls into question the relevance for SME?s of established theories of internationalisation derived from large scale surveys involving MNC?s in developed countries.