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Strategic networking behavior of SMEs is an issue that has not yet been thoroughly studied in the context of emerging market economies in Eastern Europe. No doubt, through strategic networking, SMEs could gain access to valuable resources – information, know-how, technologies, finance, etc., needed for strategy development, and building and maintaining competitive advantages. In addition, the networking of Bulgarian firms operating in a limited domestic market can be viewed as a tool for gaining access to external markets. On the other hand, intensive collaboration and networking creates problems and challenges for the SMEs and places new requirements to their strategic management. Therefore, this chapter draws upon the data and results of three researches which investigated strategic networking behavior of Bulgarian SMEs in order to reveal the specific benefits and challenges of SMEs involved in networks and to examine the impact of networking activities on SMEs strategic development. Finally, recommendations for the strategic networking behavior of Eastern European SMEs are formulated with a view to improve their results from networking and hence their competitiveness.

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