Representing the majority of business enterprises, employment, and a substantial portion of the global GDP, collectively, SMEs are significant economic engines. Individually, however, they cannot begin to match the physical and financial, hard capital, assets of their “big business” counterparts. Consequently, their potential growth and survival may depend on how well they can harness the firm capital assets available to them. Firm capital, as defined here, consists of intellectual, customer, structural, cultural, and social capital. This paper explores the sources and uses of firm capital and its role in securing competitive advantage, new income streams, successful leadership transition, and constructive training and mentoring initiatives.