Innovation and internationalization of business have always been of interest to both researchers and practitioners. There are varieties of approaches to study the phenomena and their interaction. Numerous publications explore the role of multinational enterprises from developed and emerging economies on internationalization and globalization and the success factors for the process among which is always innovation – lead-user, open, disruptive, social, sustainable, frugal, digital, etc. SMEs have limited resources but also contribute to the internationalization of innovation by exploiting specific advantages and discovering niche markets in a regional or global scope.
This book is intended to present the practice of Bulgarian SMEs and the interdependence of innovation and internationalization in their international business decisions. It takes an integrative approach to their experience. The Bulgarian small open economy is a major reason for internationalization. However, many companies develop business with a focus on the domestic market. For others international activities create opportunities for fast growth and transformation from a SME into a large company.