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Purpose - The paper investigates the perceived critical managerial factors affecting the performance of small and medium-sized enterprises (SMEs). Design/methodology/approach - Data were collected from 250 SMEs in Botswana through questionnaire and analyzed using simple descriptive statistics. The respondents were asked to rate the impact of 34 selected items (derived from small business management literature) using a five-point Likert type scale ranging from very high (5) to very low (1). Findings - The findings revealed that four factors (managerial action, human resources development, managerial background and organization development) emerged as critical management problems affecting the survival and growth of SMEs in Botswana. Research limitations/implications - Although the findings are based on perceptions of managers rather than actual impact analysis, they have practical implications for the development of a proactive management development and training and small business support programs in developing economies like Botswana. Practical implications - The paper promotes the importance of designing management development and support programs based on assessment of the organizational and managerial problems and the objective conditions in which SMEs are operating.