Internationalisation of innovative SMEs in the Hungarian medical precision instruments industry

Abstract

Competitive and innovative Hungarian SMEs in the medical precision instruments sector can be characterised by continuous development, special knowledge and innovation activity. These are the main factors behind their high level of competitiveness and higher than average level of internationalisation. Certain companies could become leading firms in worldwide comparison in niche segments, and there are a few companies which internationalised early in the company life cycle and can be called ‘emerging born globals’. Thus post-communist economies can also be homes to such companies. This article analyses the motivation of internationalisation, the choice of foreign location and the main barriers to internationalisation for SMEs in this sector in Hungary, pointing out the similarities and differences between problems faced by smaller companies in former transition economies and in more developed economies.