Internationalization Strategies for Nigerian SMEs in Agribusiness

This report presents a literature review focused on the strategies for internationalization of Small and Medium Enterprises (SMEs) within the local agricultural business sector in Nigeria. The review analyzes secondary resources, including research papers and reports, to understand the challenges and opportunities of internationalization for Nigerian agribusinesses. The report explores various theories of internationalization such as the Uppsala Theory, Location Advantage Theory, Comparative Advantage Theory, and the Theory of Proprietorship advantage. It also examines the financial and technological barriers faced by Nigerian SMEs. The review highlights strategies like multidomestic, global, and transnational approaches, considering factors like labor availability and market demands. The importance of financial planning and the adoption of innovative tools are emphasized to facilitate successful international operations. The report concludes by underscoring the need for effective strategies to help Nigerian agribusinesses expand globally, considering the specific needs of local and global markets.