In developing countries, Small and Medium Entrepreneurs have proven to be catalyst for economic growth. Performance in entrepreneurial business pose concern because when these businesses perform better, there is a positive change in the economy where they operate. The main objective of this study was to assess knowledge management practices among small and medium entrepreneurs in Fako Division of Cameroon. This study was guided by the Knowledge based theory of the firm. Descriptive statistics and survey research design approach were used. The study focused on 184 registered entrepreneurial ventures in the division. Random sampling technique was used for the selection of respondents. A total of 678 respondents were chosen. It was discovered that the entrepreneurial businesses were operating under different levels of knowledge management practices. In this study, four major levels were identified and seen to affect performance of the businesses concerned. It was recommended that entrepreneurs should develop interest and pay close attention on upgrading their levels of knowledge, in order to find themselves amongst the 'Medium' and 'High' Levels of knowledge management practices. Hence, become more successful, grow and achieve sustainability goals. Conclusively, the study affirmed that, entrepreneurial ventures perform better when they adopt and efficiently use the Medium-High level of knowledge management practices.