Resource Based Theory would suggest that owners or managers who efficiently and effectively make use of internal resources and implement strategies in their businesses have a greater chance of realising a competitive advantage over others in the same industry. This research explores whether the internal resource of understanding business tax, financial statements and/or computer accounting software (CAS) by small business owners is related to their business success in the service sector. The results demonstrate that small businesses with a higher understanding of business tax and CAS achieve a higher value of gross annual revenue, as well as net annual income. These results are important in demonstrating the need for small business owners to improve their understanding of business tax and CAS can aid the overall success of their business.