Office of internationalization

Growth-related factors seem to be a particularly important internal motivator among the SMEs investigated in these recent studies. This reflects the increasing appreciation of the growth opportunities associated with internationalization among this category of firms. It is interesting to note that in their quest for international market-led growth, SMEs increasingly seem to seek access and integration into the lucrative supply chains of international players. Another equally important endogenous motivation is the possession of critical resource factors, including knowledge resources and capabilities, by the investigated SMEs. Reflecting their status as social entities, SMEs are also motivated in their internationalization decisions by factors within their external environment, including networks and supply chain links, social ties, and the sector and region to which they belong. This appears to mitigate some of the resource-related impediments associated with SME internationalization (OECD, 2010). As noted by an example in a recent report, where Danish, Dutch, Finnish, Norwegian and Swedish enterprises form part of a global value chain and where these firms frequently gain business due to sourcing from abroad (Statistics Denmark, 2010). These resource-related factors typically take different forms, with those pertaining to managers‟ internationalization knowledge and firms‟ innovation, technological and relational capabilities seeming to be most influential. Of particular salience is the observed importance of firms sectorial and regional origin, as is the reported increasing relevance of network/social ties, and immigrant links in SME internationalization. These findings, indeed, raise the question of whether, and the extent to which, these drivers of SME internationalization behavior are factored into government support provision. The foregoing review of recent relevant evidence suggests the continuing relevance of both internal and external motivations for SME internationalization.

Social Ties Driving Internationalization for SMEs from Azores Islands, Portugal

Social Ties Driving Internationalization for SMEs from Azores Islands, Portugal

A recent study of a small fish exporter from the Azores Islands, an autonomous Portuguese archipelago in the North Atlantic, some 900 miles from the European mainland, offers useful insights on the key drivers of internationalization for companies based on small islands. It illustrates the critical role of social ties in guiding and supporting island-based SMEs towards successful internationalization. Often challenged by „isolation‟ and distance from the core economies, and by dis-economies of scale and high transportation cost, these SMEs from small islands tend to exhibit relatively low international involvement. The resultant economic weakness associated with such islands often fuels emigration.  In the case of the small fish exporter from the Azores Islands investigated by Camara and Simeos (2008), this meant access to major emigrant communities in Canada (British Columbia and Quebec) and the United States (California, Hawaii, Massachusetts, and Rhode Island) among others. There is evidence, however, that some island-based SMEs leverage the network of family and social ties existing between those remaining on the islands and those that emigrated to compete in international markets.
Source: Camara and Simeos (2008)

Growth Motives.

Growth Motives.

Growth opportunities associated with international markets were identified as a key driver of firm internationalization in several recent studies. Orser et al. (2008), for example, reports say that after allowing for the impacts of firm size and sector, Canadian legal firms whose owners had expressed growth intentions were more than twice as likely to export, than those whose owners did not indicate growth ambitions. Firms‟ overseas venturing decision also seems to be motivated by a need for business growth, profits, an increased market size, a stronger market position, and to reduce dependence on a single or smaller number of markets. The possibility of growth in other markets and increased profit opportunities from international expansion were highlighted as key stimuli for exporting among the Australian, British, Spanish, Swedish, and US firms investigated in recent studies.

Thai Baht Account

Thai Baht Account

Agreements and contracts on Agreements and Contracts

As a matter of fact, non-residents may also open and maintain a Thai Baht account with the authorized agents in Thailand. In addition to a passport, the authorized agents may also require a work permit (if any). What is more, the depositor will be requested to submit certain necessary documentary evidence, such as in the case of a deposit of Thai Baht derived from sale of foreign currency which originated from abroad--the evidence of such sale of foreign currency, or if derived from salary received while working in Thailand--the certificate of income from the employer. Similarly, the minimum amounts required for opening of different types of Thai Baht accounts may also be specified by the authorized agent with which the accounts are to be opened and maintained.