The study investigates the relationships of enterprise resources and branding capabilities with branding efforts and branding benefits. It examines the differential effect of physical resources and branding capabilities on enterprises’ branding efforts and outcomes. Empirical data for the study were drawn from 304 small and medium-sized enterprises (SMEs) in Ghana. The hypothesized relationships were analyzed using Structural Equation Modeling. The study found that resources and capabilities possessions might not be enough to produce the optimum branding benefits for enterprises. A better result, however, emerges when these resources and capabilities are integrated with well-coordinated branding efforts of the enterprises. The study offers several implications for managers of small businesses based on the findings of the study.