This thesis addresses the effort of Small and Medium-Sized Enterprises (SMEs) to establish a relation between the Business Analysis Body of Knowledge (BABOK) theory and practice. That means which aims at helping especially SMEs to get in touch with the complex BABOK® Guide and to benefit from Business Analysis (BA). SMEs are required to be prepared to deal with business difficulties, comprehend the terminology, and have a thorough understanding of BA techniques. As a result, if the correct tools are available for official adoption, SMEs can become more productive and efficient in their market. The International Institute of Business Analysis (IIBA) publishes materials to aid in the implementation of the BABOK framework, however, it’s not enough for SMEs’ unique preparation needs. That is to say, the existing standardization of documents, which has over 700 pages, is insufficient to achieve SMEs’ business goals in the most effective and efficient manner. Considering this current situation, this thesis investigated the similarities and challenges of theoretically implementing the existing BA. An attention has been drawn to the business needs and how they influence the activities of SMEs. In addition, the literature review also attempted to identify challenges with BA and Requirements Engineering (RE). Finally, I it will be emphasized how important it is for SMEs to have a thorough understanding of both theoretical and practical BA with BABOK knowledge.