Lack of finances and inability by Small and Medium Enterprises (SMEs) to borrow capital funds from financial institutions because they do not have collateral security is normally attributed to their failure to survive for more than five years. SMEs which get capital from donors in terms of grants have continued looking for donor funds without being able to attain sustainability in terms of increasing the finance base and creation of new markets. Some of the governance structures of SMEs have incorporated the use of Information and Communication Technology (ICT) in their business management while others are still watching from a distance without embracing e-business. This paper examines the relationship between governance in terms of board of directors and top management and the sustainability of SMEs. Online desk review methodology was adopted where by 90 journal articles related to governance, IC and sustainability were downloaded from reliable search engine. The literature reviewed at international, regional and national level indicates that good governance increases finance base and helps top management to create new markets. The paper concludes by encouraging SMEs to invest more on governance as well as using ICT so as to be in position to increase the market share, finance base and overall sustainability.