n Acta Commercii - Internationalisation of South African SMEs : the role of capital factors

Volume 12, Issue 1
  • ISSN : 2413-1903
  • E-ISSN: 1684-1999


The purpose of this study is to investigate the influence of capital factors in the internationalisation of South African Small and Medium Enterprises (SMEs). Capital factors include financial, social and human capital, which are traditionally scarce in a SME emerging market context.

The study draws upon a sample of 67 internationalised South African SMEs using an online questionnaire. Descriptive statistical analyses are used to analyse various features of internationalisation and perceptions of capital factors.
Results confirm that financial capital items are perceived as inhibitors to the SMEs ability to internationalise.
Findings provide policy-makers and practitioners with additional insights into the key constraints to internationalisation of South African SMEs.

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