International Journal of Business, Management, and Economics e-ISSN 2746-1351 Vol. 4 No. 3, August 2023 Published by: Page203 Knowledge Retention Strategy and Performance of Small and Medium Enterprises in Ado-Ekiti Metropolis Ayodeji Muyideen Awolaja, 1 Olalekan Enitilo 2* , Olumayowa Kabir Otulana 3 1,2 Ekiti State University, Ado Ekiti, Department of Business Administration, Olabisi 3 Onabanjo University, Ago Iwoye, Ogun State, Nigeria, Department of Business Administration Corresponding Author: enitiloolalekan@gmail.com * , ayodeji.awolaja@eksu.edu.ng , olumayowaotulana@yahoo.com Abstract The study looked at the performance of small and medium-sized businesses in Ado-Ekiti Metropolis and their knowledge retention strategy. The study took the form of a descriptive survey research design. The study’s participants were 11,663 owners and managers of small and medium-sized businesses in the Ado-Ekiti Metropolitan Area. Yamane was used to collect 387 samples (1967). The study’s primary data was collected via a standardised questionnaire. Regression was used to examine the data collected. The findings show that all of the explanatory factors’ constructs significantly impact the performance of small and medium-sized businesses in Ado-Ekiti Metropolis. Keywords: Knowledge Retention, SMEs, Performance How to Cite: Awolaja, A. M., Enitilo, O., Otulana, O. K. (2023). Knowledge Retention Strategy and Performance of Small and Medium Enterprises in Ado-Ekiti Metropolis. International Journal of Business, Management, and Economics, 4(3). 203 – 211. DOI: https://doi.org/10.47747/ijbme.v4i3.1152 1. Introduction Knowledge is recognised as one of the elements in gaining a lasting competitive advantage over competitors in today’s modern business. Organizations that are "constantly learning," adaptable, and flexible are more likely to thrive, and harnessing and exploiting human capital is an important aspect of achieving that aim. That is, knowledge retention can be utilised to gather, distribute, apply, exploit, and possibly develop knowledge before people leave the Article Information: Received: April 24, 2023, Accepted: August 01, 2023, Published: 31August 05, 2023