In the current economic era, named the knowledge economy, it is considered that knowledge is the most critical tool to create products and services. Knowledge transfer forces a focus on the knowledge-based economy, where access to tangible resources alone does not provide a sustainable competitive advantage (Marr & Spender, 2004). There are methods to measure tangible assets in businesses, for instance, financial statements, but sometimes not all intangible assets, as shown in this research. However, managing intangible assets has become crucial in businesses because it supports decision-making, innovation, and formulation of strategies for higher performance (Marr et al., 2004), in today’s fast-changing environments that include technological developments (Chen & Zhu, 2004). Therefore, the primary source of value creation reduces tangible assets or structural capital, and intangible assets become a more reliable source (Carson et al., 2004). Intellectual Capital (IC) is vital because it is a fundamental factor for generating and transferring knowledge, improved productivity and efficiency, and excellent business value. This research aims to analyze the correlation of IC on business performance. This research answers the question ‘do IC in firms spur its performance? The proposed research methodology is an analysis of multiple correlations. In the results, it is provided that the level of relationship between IC and business performance. In this research methodology, we applied a survey to 142 business in the services, commercial and industrial sectors. The survey measured the human, structural, and relational capitals and the financial, market, and operative performance. The results present that IC contributes 30.5% to economic performance, 36.2% to market performance, 46.3% to operational performance and 51% to total performance. To conclude, it was possible to identify that the IC may have some variations in human, structural and relational means, all influencing business performance. The greater the IC, the greater the effect on performance. However, IC must be correctly identified to create an organisation’s operational plan that improves financial, functional, and market performance. Still, developing strategic plans to make a one-of-a-kind company creates a more excellent value in the organisation. IC is not repetitive between organisations, not even in the same sector or specific situation. Still, it can be a great support to create a unique, solid, and irreplaceable company, depending on the organisation. Knowledge management is, therefore, a necessity. The development of organisational knowledge is the task and challenge of current administrators. Thus, this research provides a tool to identify businesses’ IC for performance improvement.