The Impact of Export Promotion on the Merchandise Export Performance of Small and Medium Enterprises in Kerala.

Abstract

Globalization has made it easier than ever before for small and medium-sized enterprises (SMEs) to launch worldwide expansion strategies. A nation's economic growth is greatly aided by its small and medium-sized enterprises. Nearly everywhere, a growing share of small and medium-sized enterprises' (SMEs') revenue comes from sales to customers outside of their home country.

If a small or medium-sized enterprise (SME) wants to expand internationally, it must develop its own set of distinctive, unique, and dynamic competencies in order to acquire competitive strategies that will allow it to compete against other firms, most notably larger, better-resourced multinational corporations (MNEs). In today's increasingly interconnected economy, it's becoming increasingly difficult to maintain competitiveness and grow a company abroad. The global marketplace is becoming increasingly competitive, and consumers throughout the world are demanding higher quality products and services as a result.

Small and medium-sized enterprises (SMEs) often have a hard time in the beginning stages of their development when it comes to securing necessary financial backing (Ahmed et al. 2002). Because of their financial constraints, they have had less opportunity to learn about and implement cutting-edge ideas and technology. As important as small and medium-sized enterprises (SMEs) are facilitating to the growth of the national economy, they often face financial constraints due to a lack of development support.

In today's ever-increasingly competitive marketplaces, the only way for SMEs to thrive is to become nationally and internationally competitive (Lee et al. 2020). Small and medium-sized enterprises (SMEs) that aspire to compete on a regional and global scale must build up sufficient resources and expertise (Lee et al. 2019; Kolarov and Georgieva 2020).