How Do Social Networks Make a Difference in the Internationalization of High-Tech SMEs?

Abstract

How do social networks contribute to the success of the internationalization process of high-technology small and medium-sized enterprises (SMEs)? A study of the literature and of five Colombian SMEs in the software industry identifies three roles played by networks: informational, linked to opportunities, vision and uncertainty; as a catalyst or moderator in the decision-making and internationalization process; and as leverage during the acquisition and development of resources. The results are integrated into a holistic model of the internationalization process and show that social networks make a difference in ensuring its success. They also add to the evidence of the irrelevance of geographical specificity to the international entrepreneurship phenomenon – Colombia being an emerging and little studied economy.