International opportunity recognition among small and medium-sized family firms

Current research in the field of entrepreneurship emphasizes the importance of opportunity recognition as a key element in the entrepreneurial process. It has been recognized that network ties, activeness and alertness, and prior knowledge are related to how entrepreneurs recognize new opportunities. However, it is unclear how important these factors are when a firm explores opportunities for entry into a foreign market. In this exploratory case study, covering the international opportunity recognition of eight family-owned small and medium-sized enterprises (SMEs), we found that the firms in question mainly recognized international opportunities by establishing new formal ties rather than …