Social Ties Driving Internationalization for SMEs from Azores Islands, Portugal

Social Ties Driving Internationalization for SMEs from Azores Islands, Portugal

A recent study of a small fish exporter from the Azores Islands, an autonomous Portuguese archipelago in the North Atlantic, some 900 miles from the European mainland, offers useful insights on the key drivers of internationalization for companies based on small islands. It illustrates the critical role of social ties in guiding and supporting island-based SMEs towards successful internationalization. Often challenged by „isolation‟ and distance from the core economies, and by dis-economies of scale and high transportation cost, these SMEs from small islands tend to exhibit relatively low international involvement. The resultant economic weakness associated with such islands often fuels emigration.  In the case of the small fish exporter from the Azores Islands investigated by Camara and Simeos (2008), this meant access to major emigrant communities in Canada (British Columbia and Quebec) and the United States (California, Hawaii, Massachusetts, and Rhode Island) among others. There is evidence, however, that some island-based SMEs leverage the network of family and social ties existing between those remaining on the islands and those that emigrated to compete in international markets.
Source: Camara and Simeos (2008)

Growth Motives.

Growth Motives.

Growth opportunities associated with international markets were identified as a key driver of firm internationalization in several recent studies. Orser et al. (2008), for example, reports say that after allowing for the impacts of firm size and sector, Canadian legal firms whose owners had expressed growth intentions were more than twice as likely to export, than those whose owners did not indicate growth ambitions. Firms‟ overseas venturing decision also seems to be motivated by a need for business growth, profits, an increased market size, a stronger market position, and to reduce dependence on a single or smaller number of markets. The possibility of growth in other markets and increased profit opportunities from international expansion were highlighted as key stimuli for exporting among the Australian, British, Spanish, Swedish, and US firms investigated in recent studies.

Foreign Currency Account

There are several Regulations and Laws that have to be followed. A passport and work permit (if any) will normally be requested from the applicant when opening a foreign currency account in Thailand. In addition, certain supporting documents, such as relevant pay slip or loan agreement, must be submitted to the authorized agent. Generally, non-residents may open and maintain a foreign currency account with authorized agents in Thailand. The funds to be deposited into such foreign currency account by nonresidents must be from abroad or received from a resident for payment of its obligation (e.g. salary paid by resident employer) or borrowed from the authorized agents.

Even if there is no restriction under the Exchange Control Act as to the foreign currency to be deposited and maintained in the foreign currency account in Thailand, only accounts denominated in certain major foreign currencies such as USD, JPY, EUR, GBP, AUD, CAD, DKK, CHF, SGD and HKD are available (depending primarily on which authorized agent such foreign currency account is to be opened and maintained). Each authorized agent may also specify the minimum amounts required for opening of a foreign currency account (savings, fixed deposit, or current, as the case may be) with it.

Legal Concepts

Some of the concepts that International Lawyers use commonly

Real property:

bienes inmuebles

Reasonable doubt:

duda razonable

Rebuttal:

Refutación

Recognizance:

promesa; compromiso; reconocimiento

Recording statutes:

leyes estatales sobre registros oficiales

Redress:

Reporacíon

Reformation:

rectificación; reforma; corrección

Rejoinder:

dúplica; contrarréplica

Release:

liberación; renuncia a un derecho

Remainder:

substitución; reversión

Remedy:

recurso; remedio; reparación

Replevin:

acción reivindicatoria; reivindicación

Reply:

Réplica

Requirements contract:

contrato de suministro

Rescission:

Rescisión

Res judicata:

cosa juzgada; res judicata

Respondeat superior:

responsabilidad del mandante odel maestro

Restitution:

Restitución

Restrictive indorsement:

endoso restrictivo

Resulting trust:

fideicomiso implícito

Reversion:

reversión; sustitución

Revocation:

revocación; derogación

Right of contribution:

derecho de contribución

Right of reimbursement:

derecho de reembolso

Right of subrogation:

derecho de subrogación

Right-to-work law:

ley de libertad de trabajo

Robbery:

Robo

Rule 10b-5:

Regla 10b-5

Sale:

venta; contrato de compreventa