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Internationalization of SMES - a solution to overcome the current economic crisis

Author

Listed:
  • Corina Ana BORCOŞI

    (SC Koncord Trans SRL)

  • Anca STĂNCUŢ

    (University of Craiova)

Abstract

There is a close link between economic performance and increasing internationalization of SMEs. International activities increase competitiveness and ensure long-term development of enterprises. However, European SMEs still depend largely on their internal markets, notwithstanding the opportunities created to the single market and globalization in general. A study realized in 2009 by the European Commission reveals that internationalization creates more jobs: SMEs active in foreign markets reported an increase in employment by 7% compared to only 1% free activities for SMEs international. Internationalized SMEs are more innovative: 26% of SMEs have introduced internationally active products or services that were new to the sector in their country of origin.

Suggested Citation

  • Corina Ana BORCOŞI & Anca STĂNCUŢ, 2010. "Internationalization of SMES - a solution to overcome the current economic crisis," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 4, pages 47-54, December.
    • Handle: RePEc:cbu:jrnlec:y:2010:v:4.ii:p:47-54
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