SMEs are an important component of the economic development vehicle in many countries. In Egypt, SMEs represent the vast majority of business establishments in terms of number of firms. They also employ the majority of the labor workforce and contribute by more than half of the GDP of Egypt. Internationalization is one of the growth, expansion, and stabilization paths for SMEs. Despite the large number of studies on the topics related to the SMEs internationalization, there is very limited literature on this topic in the context of developing and least developed countries. Numerous government policies and initiatives supporting SMEs and stimulating SMEs internationalization in Egypt, both empirical and research findings, show no evidence of effectiveness of such policies and initiatives. This study takes an unorthodox view to study the cognitive, attitudinal, and behavioral factors of internationalization decision making in SMEs, using a complimentary theoretical base that is weaved of both causation and effectuation theories. The study conducted exploratory sequential mixed research method to benefit from the exploratory power of the qualitative first phase as well as the statistical testing power of the quantitative phase. A set of research hypotheses are formulated based on the available body of literature along with the exploratory interviews with SMEs owners, manager and expert consultants as well as government officials concerned with SMEs’ development and internationalization. The research findings revealed that international opportunity recognition is a critical factor for the internationalization engagement of SMEs. Study results also highlighted the importance of government “soft” support in terms of narrowing the cognitive gap between the SMEs and the international opportunities. Lateral rigidity of SMEs was also identified as a considerable road blocker for SMEs alertness to international opportunities. Findings are discussed in the light of the existing knowledge, and possible limitations of the study are considered. Research findings implications for different stake holders are emphasized. Finally, future research avenues related to the study topics are suggested.