KEY FACTORS FOR THE INTERNATIONALIZATION OF SMEs IN LATIN AMERICA, 2020-2025

Abstract

The objective of this research was to identify the key factors that influence the internationalization of SMEs in Latin America, through a systematic review between 2020 and 2025. The PRISMA method was applied, considering inclusion/exclusion criteria, whose initial search was carried out in five scientific databases: Scopus, WoS, Redalyc, Scielo and Google Scholar, obtaining a total of 1,097 records, eliminating 75 duplicate articles between the bases, 15 for not being eligible through automated tools, 882 studies for being different from what was searched and 10 additional articles for deviating from the analytical focus, reaching only 40 articles analyzed. The results highlighted that factors such as financial capabilities, innovation, managerial knowledge and digital transformation are the most influential, followed by the political-commercial environment, external barriers and network and alliance strategies. The discussion highlighted that internationalization does not depend on a single factor, but rather on a dynamic interaction between internal resources and environmental conditions. The conclusion is that Latin American SMEs that strengthen their innovation capacity, financial management, and strategic alliances are more likely to enter international markets, provided they have institutional support and favorable policies.