In the contemporary, Entrepreneurial orientation and Market orientation have become important topics among business academics and practitioners. Since business environment has become more competitive, the need to develop and improve internal resources is now a prerequisite for global survival; entrepreneurial orientation and market orientation are now the crucial falcons that are assisting the firms to achieve such a niche. Despite the importance of MO and EO, researches that link these concepts to SMEs performance are very limited. In this view, through extensive literature view, this study has found a theoretical link that exists between entrepreneurial orientation, market orientation and performance of SMEs and also developed conceptual model for empirical validations. This study serves not only to clarify the relationship between entrepreneurial orientation, market orientation and SMEs performance, it also explains the role which TQM plays as a mediator in this relationship which most studies have neglected. Again, the conceptual model also examines the moderation role of the organizational culture in the relationship between TQM and SMEs performance.