Public funding as part of the internationalization of Finnish SME's : A Case Study: price tag for internationalization
Lehmonen, Ida (2016)
Tampereen ammattikorkeakoulu
2016
All rights reserved
Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-201605147840
https://urn.fi/URN:NBN:fi:amk-201605147840
Tiivistelmä
This bachelor’s thesis was commissioned by Finnvera Oyj. Finnvera is a specialized financing company owned by the State of Finland and it is also the official Export Credit Agency (ECA) of Finland. Finnvera wanted to find out how their customer companies plan and budget their internationalization, in order to understand and serve their current and new customer’s even better way.
Theoretical framework of this thesis covered public funding and subsidies that are offered in Finland for internationalizing SME’s. This utilized the work writer did for Helsinki Region Chamber of Commerce (appendix 1 Julkinen rahoitus ja tuet) in fall 2015. The appendix 1 Julkinen rahoitus ja tuet presents public funding and subsidies that are offered in Finland for growth and internationalization of Finnish companies.
Research was implemented with qualitative research method. Research investigated how Finnvera’s customer companies plan their internationalization and how they budget their internationalization. Research was carried out by phone interviewing sixteen Finnveras’s customer companies. Interviewed companies were Finnish SME’s and they represented different industries, sizes and ages and they had different background in international business.
Research results showed that at some parts this research group companies differed from the general type of internationalizing Finnish SME. All research group companies were actively involved in international business; majority of the research group companies had already involved in international business and few were just starting to internationalize, but all companies were planning grow the share of international business in coming 3-5 years.
In addition to the needs of Finnvera, purpose of this work was to share experiences of already internationalized companies to other internationalizing companies. Recommendations in chapter 6 are written especially as tips for internationalizing SME. Main recommendation based on this work for internationalizing SME is to plan and budget internationalization process carefully and to see internationalization as a strategic part of the business, instead of executing internationalization just in the side of the original business. From financial perspective main recommendation for internationalizing SME is to use external funding in addition to internal funding and to utilize public funding and subsidies and advisory services that are offered in Finland.
Theoretical framework of this thesis covered public funding and subsidies that are offered in Finland for internationalizing SME’s. This utilized the work writer did for Helsinki Region Chamber of Commerce (appendix 1 Julkinen rahoitus ja tuet) in fall 2015. The appendix 1 Julkinen rahoitus ja tuet presents public funding and subsidies that are offered in Finland for growth and internationalization of Finnish companies.
Research was implemented with qualitative research method. Research investigated how Finnvera’s customer companies plan their internationalization and how they budget their internationalization. Research was carried out by phone interviewing sixteen Finnveras’s customer companies. Interviewed companies were Finnish SME’s and they represented different industries, sizes and ages and they had different background in international business.
Research results showed that at some parts this research group companies differed from the general type of internationalizing Finnish SME. All research group companies were actively involved in international business; majority of the research group companies had already involved in international business and few were just starting to internationalize, but all companies were planning grow the share of international business in coming 3-5 years.
In addition to the needs of Finnvera, purpose of this work was to share experiences of already internationalized companies to other internationalizing companies. Recommendations in chapter 6 are written especially as tips for internationalizing SME. Main recommendation based on this work for internationalizing SME is to plan and budget internationalization process carefully and to see internationalization as a strategic part of the business, instead of executing internationalization just in the side of the original business. From financial perspective main recommendation for internationalizing SME is to use external funding in addition to internal funding and to utilize public funding and subsidies and advisory services that are offered in Finland.