This paper develops and tests resource dependency and institutional theory arguments for explaining two choices facing SMEs: the decision to export or not, and, in case a firm has decided to export, the choice between exporting directly or indirectly. We test four hypotheses using a sample of 871 Dutch SMEs and applying multinomial and binomial logistic regression analysis. Our results suggest that institutional theory perspectives may be mainly relevant in explaining the choice of whether or not to export, while resource dependency theory arguments may be particularly relevant in explaining the choice between direct and indirect export modes. Our findings have important implications for policy and research