This book argues that the competence of the region to attract FDI and the competence of the SME to undertake internationalisation are two of the main drivers of greater competitiveness. The empirical and theoretical work on FDI is developed and considers how regional competencies/factors can be used to attract FDI. Next, SME internationalisation and its impact on regional competitiveness are examined, focussing on the resources and competences, at the level of the entrepreneur and the firm. The work contributes to the richness of understanding of the complex relationship between the range of explanatory factors at a regional, national and supra-national level that influence inbound FDI, in particular providing a much better understanding of UK regional FDI inflows. The work on the internationalisation of SMEs contributes to a better understanding of entrepreneurial and firm competences at the sub-regional. The results provide both for academics and policy-makers a tool kit for the analysis and understanding of regional competences and offer a better understanding of the drivers of national and regional competitiveness.