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Strong competition from the Far East and the expiration of the Multi Fibre Arrangement (MFA) have led to the restructuring of the European textile and clothing industry. The relative stabilisation of textile and clothing companies was disrupted by the global financial and economic crisis of 2008. Given the way the textile and clothing industry functions and the prevalent models of competition, internationalisation provides good, realistic prospects for the development of European enterprises in that sector. This study compares small Ukrainian, Polish and Spanish enterprises in this respect. While they are characterised by different degrees of market maturity, they largely share the general characteristics of small and medium enterprises (SMEs). The results reveal three interpretative perspectives for the internationalisation of companies. [ABSTRACT FROM AUTHOR]