What factors drive performance of small and medium-sized enterprises?

From a resource-based perspective, the objective of this study is to identify determinant factors for success in Small and Medium-Sized Enterprises (SMEs) and their influence on business performance. For this purpose, we performed a quantitative study among Portuguese SMEs. We used a broad data set of factors internal to the business and performance indicators derived from previous studies. For data examination, principal component and linear regression analyses were applied. Empirical evidence indicates the overwhelming importance of strategic planning for business performance. Regarding the implications, we contribute to resource-based theory and make suggestions for practitioners in the realm of SMEs.