Are all cats grey in the dark'? calling for a new taxonomy of internationalizing SMEs

Although internationalizing small and medium enterprises (SMEs) have been extensively examined, the literature has mainly classified them based on size than on other factors disclosing different international dynamics, their diverse performance records, relevant strategies and support needs/expectations. This study examines internal and external barriers and key success factors of internationalizing companies, using data from 38 in-depth interviews of Australian SMEs conducted between 2016 and 2018. These cases were then categorized, using an inductive approach and text analysis software, along two dimensions of international experience and exposure, and product and/or service uniqueness and innovation. Moreover, internal and external liabilities and assets were diagnosed for each category. The resulting taxonomy, consisting of 'prominent', 'performing', 'promising', and 'precluded' sub-groups of SMEs, provides a useful categorization of exporting SMEs elucidating their differentiated needs and priorities. This research highlights that the current `catch-all' category used in research and practice for internationalizing SMEs is not consistent and should instead be unpacked.