Best practices and potential biases in trade missions

: portuguese SMEs mission guidelines : forms of value and timing

Abstract

Standing in a period of economic uncertainty, Portugal had to look for measures to improve its financial health. Internationalization was regarded as an option, leading EPAs and, specifically, Trade Missions to gain notoriety. Since SMEs are crucial in the country’s recovery and are seen as the companies which can receive greater benefits from participating in these Missions, we develop a list of potential biases and best practices regarding Trade Mission. Through interviewing SMEs participants, EPAs, and Trade Fairs SMEs participants, we manage to identify some initiatives expected to contribute in making Portuguese Trade Missions more efficient. Among the potential biases, most of them are related to internal attribution. As a result, firms need to: be explicit while interacting with the agencies; take measured risks on which country to invest and be aware of their capability to internationalize their operations; understand who their potential partners are and how to interact with them; and be as less dependent as possible from the organizers, hence, making deals on their own. Regarding the best practices, the ones listed intend to give doable conducts on how an SME can prepare for a Trade Mission. We aim at making participants aware of others’ importance and, we also consider initiatives that can help prepare for the Follow-up period. Accordingly, we hope to be able to correctly consider how an SME should proceed when and while enrolled at a Trade Mission.

Date of Award	2015
Original language	English
Awarding Institution	Universidade Católica Portuguesa
Supervisor	Nuno Cardeal (Supervisor)