Entrepreneurs’ search for resources in the internationalization process : the role of personal and organizational networks

In an increasingly globalized economy, entrepreneurs need to internationalize to remain competitive. Expanding into new international markets requires resources and as entrepreneurial organizations are typically resource-poor, the aim of this study is to examine the processes by which entrepreneurs seek external sources to provide critical resources required to internationalize. A qualitative approach of in-depth face interviews with twelve entrepreneurs in the healthcare industry form the context of this research. Eight of these entrepreneurs are from the health and medical sector and four are from the health and wellbeing sector. Results indicate that while pre-existing personal networks provide much needed resources, equally important are organizational networks of government export agencies, industry and professional associations. These organizational networks, being able to offer a much wider breath of resources, are in fact, instrumental in the success of entrepreneurs' international new ventures. Furthermore, results suggest that while there are similarities in the resource-seeking behavior of entrepreneurs in both sectors, key differences are noted in the way entrepreneurs collaborate with networks of competitors, government export agencies and industry/professional associations. This paper contributes empirically to knowledge building in the study of resource-seeking strategies of internationalizing entrepreneurs.2 page(s