The purpose of the study was to determine correlates of business performance and assess how gender fairs among other correlates like, owner characteristics (owner age, marital status, motivation, education level, skills and experience, hours worked per day and family ownership) and business characteristics (business age, business size, business location and business sector). Data was obtained from the Finscope national survey of 1814 business owners. An Ordinary Least Squares (OLS) multiple regression model was used to determine the relationship between gender, owner and business characteristics and business performance. The findings indicate that gender has no significant influence on business performance, however owner characteristics (marital status, motivation, education level, skills and experience and hours worked per day) and business characteristics (business location and business sector) were found to have a significant influence on business performance. Business owner age, family ownership, business age and business size were not explanatory variables on business performance.