The internationalization of small and medium enterprises (SMEs) has become vital as it enables them to enhance their business prospects and achieve organizational objectives. This is of utmost significance for the future growth of nations, regions, and the global economy, given the progressively significant role played by SMEs in contributing to economic development. However, SMEs face numerous challenges when it comes to internationalization, primarily due to their limited capabilities. As a result, only a minimal percentage of SMEs are able to expand their business into the international market. Despite the numerous barriers faced by SMEs, this research specifically focuses on three main barriers: lack of market knowledge, limited business networks, and challenges related to new product development. These factors are crucial when expanding a business into the international market. Therefore, this study aims to explore how SMEs can expand their business to the international market by overcoming these barriers through the effective utilization of social media. This empirical study adopts an exploratory approach and employs qualitative methodology with an inductive research approach. To gather data, this research conducted interviews with technology-based companies in Luleå. In-depth semi-structured interviews were conducted using an interview guide, and the collected data were analysed using the thematic method. The findings of the study highlight that social media can indeed be a successful influencer in the internationalization process of SMEs, particularly by utilizing business networking opportunities. Additionally, SMEs utilize social media as a secondary source for obtaining market information and engaging in new product development activities. However, the research also identifies hesitancy among technology-based SMEs when it comes to trusting the information obtained from social media platforms. Based on the findings of this study, several recommendations have been developed, primarily focusing on technology-based SMEs. These recommendations were derived from interviews conducted with companies located in Luleå and are intended to benefit SMEs operating in the tech industry as a whole.
| Identifer | oai:union.ndltd.org:UPSALLA1/oai:DiVA.org:ltu-98126 |
| Date | January 2023 |
| Creators | Bulegoda, Aparna, Fernando, Kalindu |
| Publisher | Luleå tekniska universitet, Institutionen för ekonomi, teknik, konst och samhälle |
| Source Sets | DiVA Archive at Upsalla University |
| Language | English |
| Detected Language | English |
| Type | Student thesis, info:eu-repo/semantics/bachelorThesis, text |
| Format | application/pdf |
| Rights | info:eu-repo/semantics/openAccess |
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