ABSTRACT
Interest in the internationalization process of small and medium-sized firms (SMEs) has increased tremendously in academic research over the last three decades due to the growing awareness that international SMEs are major contributors to job and wealth creation in all countries. Thus, the differences between family and nonfamily-owned businesses are significant enough to require research attention, especially in investigations of the internationalization processes of small firms. Institutional policies may influence the degree to which businesses depend on the domestic market or exhibit internationalization ambitions during the early years of their existence. Internationalization as a process evolved at the same rate in both the family-owned and nonfamily-owned firms. Evidently, the small size of the Danish market appears to be a strong motive for internationalization; it encouraged owners to respond quickly to foreign offers and inquiries.
