Joint Ventures: No Longer a Mysterious World for SMEs from Developed and Developing Countries

PROFESSOR RIK DONCKELS IS director of the Small Business Research Institute, Catholic University, Brussels, Belgium, andJohan Lambrecht is a scientific researcher at the same institute. In this paper, joint ventures in developing countries between small-and medium-sized enterprises from industrialised countries and Third World countries figure prominently. The authors provide both empirical material and a theoretical framework with regard to this issue. First, the profile of the entrepreneurs having or planning ajoint venture in a developing country is drawn. In addition, it is shown why ajoint venture is the most suitable form for entrepreneurs and SMEs from the developed world and the developing countries. The authors conclude with the conditions for the successful genesis of a joint venture in a developing country.