The rapid development of cross-border e-commerce in China has led to a large number of entrepreneurial activities and the transformation and upgrading of traditional foreign trade enterprises. Among them, the internationalization of small and medium-sized cross-border e-commerce companies is an important topic worthy of further discussion. Based on the international entrepreneurial orientation perspective and dynamic capacity perspective in the field of entrepreneurship, this paper studies the mechanism and path of the internationalization of small and medium-sized cross-border e-commerce enterprises, takes the questionnaire of 208 small and medium-sized cross-border e-commerce enterprises as a sample, and uses the structural equation model to analyze the relationship between international entrepreneurship orientation, adaptability and international performance. The results show that the international entrepreneurial orientation of small and medium-sized cross-border e-commerce enterprises has a significantly boosting effect on their internationalization performance, and the adaptability has played a partial intermediary role in the two, indicating that the international entrepreneurial activities of small and medium-sized cross-border e-commerce enterprises not only directly promote the improvement of corporate performance, but also indirectly improve the internationalization performance of the enterprises through adaptive capacity.