Export has a positive impact on economic growth, and exporting companies often achieve a higher level of productivity than non-exporting companies. Most companies in Sweden are small, and it is of vital importance for the Swedish economy that they successfully develop and grow. In a small home-market economy like Sweden, an important direction for growth is to expand internationally. But many companies do not dare to internationalize due to a perceived lack of competence. This report aims at providing a comprehensive overview of academic research related to different kinds of competences relevant for the internationalization of small and medium-sized enterprises (SMEs). The overview leads into recommendations to SMEs regarding what kind of issues they might want to keep in mind when preparing for international business activities, e.g. to develop an appropriate set of resources and competences. In addition, implications relevant to policy-makers are derived from the literature overview.