Export activities of small and medium - size family firms: a literature review

Abstract

Family firms account for a large part of the world’s economic activity, and exports are a key factor in their success. These businesses are typically small and medium-sized enterprises (SMEs) that have been passed down through generations, often in the same family. Exporting can be a great way for family firms to increase their revenues and expand their customer base. It can also help them to diversify their portfolio and become more resilient to market changes. Exporting can also help family firms to gain access to new markets and create jobs in the local community. The purpose of the literature review through a systematic process is to study the particularities of the export activities of family small and medium-sized enterprises as well as the procedures followed by family firms in order to cope with the challenges of the international environment. The structure of the work consists of methodology, followed by findings including proposals for further research as well as practical implications. In order to make a more accurate analysis and drawing of conclusions, five research categories have been created concerning the export activities of small and medium-sized family enterprises, namely innovation in export activities, the socioemotional wealth in exports, exports strategies, the role of families in exports as well as a general section containing different other results. then. After the completion of the analysis there are proposals for further research created based on research gaps as well as their practical implications. Finally, the conclusions are briefly mentioned.