Entrepreneurs and Small Businesses: International Expansion Strategies

Abstract

In today's global economy, many entrepreneurs, small and medium enterprises are opting for an international expansion strategy as a key component of their growth strategy. International market offers far greater business opportunities than operating in domestic market alone. The aim of this paper is to examine the strategic options available to small businesses when they decide to enter international market. This paper will argue that entering international market can also cause certain business problems. The paper will discuss the necessity of quality preparation, in order to overcome possible obstacles, such as lack of knowledge on international market and on legal regulations‚ lack of qualified employees, as well as deficiency of other resources. The aim of this paper is to highlight the opportunities and threats posed to entrepreneurs, small and medium enterprises in the Republic of Serbia, while defining strategic options for international market entry and expansion.