Internationalization Strategy of Small and Medium-Sized Family Businesses: Some Influential Factors

This article studies some aspects of the internationalization strategy of family SMEs. After examining the various problems facing family SMEs as regards internationalization, in terms of lack of resources, some mechanisms are discussed to counteract their negative effect. Using a wide sample of Spanish SMEs, we confirm the existence of a negative relationship between family ownership and internationalization, measured by export activities. We also analyze the role of generational changeovers and stable relationships with other firms through shareholding or agreements aimed to promote international expansion. These mechanisms are set out to provide family SMEs with the necessary resources that have proved to be key factors in a successful internationalization process.