Publicly Funded Business Advisory Services and Entrepreneurial Internationalization
International Small Business Journal, Forthcoming
38 Pages Posted: 5 May 2014
Date Written: May 4, 2014
This paper examines whether and how publicly sponsored advising services can encourage small enterprises and new firms to take the steps required to increase their degree of internationalization. We posit and find that advising impacts the knowledge and skills firms develop. The data examined are drawn from a publicly funded organization providing mentorship and consulting services to entrepreneurial SMEs from a broad range of industries. They show a significant relationship between receipt of advising and the internationalization related knowledge and competences entrepreneurial firms develop. Further, knowledge, competences and advising are all significant predictors of firms taking steps conducive to initial or increased internationalization. The results suggest that various forms of advisory services should be explicitly considered in assessing the factors building SMEs’ dynamic capabilities. Moreover, pertinent public policy initiatives should incorporate performance metrics that capture the impact of such advisory services in enhancing the internationalization of entrepreneurial firms.
Keywords: Internationalization, Public Advisory Hubs, Entrepreneurship
JEL Classification: L26, M16
Suggested Citation: Suggested Citation