The Internationalization of Guizhou-Based Small and Medium Enterprises: An Entrepreneurship Study

Abstract

The objectives of this study were to 1) identify the international entrepreneurship (IE) dimensions and examine the influence of IE dimensions on the internationalization process of SMEs in Guizhou, China, and 2) investigate the strategies and identify the barriers and challenges encountered during the internationalization of SMEs in Guizhou, China. A mixed-methods approach was employed, combining quantitative and qualitative methods. Surveys were administered to general managers and executive directors of SMEs to collect quantitative data, which were analyzed using multiple linear regression. Qualitative data were gathered through in-depth interviews with senior executives to identify strategies, challenges, and barriers Chinese SMEs encounter during internationalization. The analysis revealed that IE dimensions, both scope and degree of internationalization, significantly influenced the internationalization process of SMEs in Guizhou, China. The scope of internalization became the most significant influence on SMEs' internationalization process. The qualitative findings indicated that expenses for overseas expansion, finding trustworthy partners, and technology or innovation were the top three challenges. At the same time, the shortage of working capital for financing exports was the major barrier to the internationalization of SMEs