Entrepreneurship has always been concentrated in regional hubs, often leaving other peripheral regions with lower entrepreneurship rates. Through the lens of the Theory of Planned Behavior, this paper proposes a conceptual model to extend the theory and examine the antecedents of Entrepreneurial Opportunity Recognition (EOR). Ease of Doing Business is hypothesized to affect EOR with the mediating role of Entrepreneurial Self-Efficacy (ESE), Social Perception of Entrepreneurship (SPE), and Social Capital (SC). This research relies on data from the 2023 GEM database and Structural Equation Modeling to measure the effects of individual, social, and institutional constructs on EOR, as the earliest cognitive act for nascent entrepreneurs. The results revealed a significant impact of Ease of Doing Business on EOR and SPE. However, EASE did not significantly impact ESE and SC. ESE and SC significantly influenced EOR, whereas SPE did not significantly influence EOR. SPE, SC, and ESE did not mediate the relationship between EASE and EOR. The study will inform the relationship between the institution (EASE), society (SPE & SC), and the individual (ESE & EOR). Most literature aims to study antecedents to entrepreneurship intention, but research on EOR has been underdeveloped. With social media’s constant critique of the traditional 9-to-5 employment structure coinciding with the rise in content romanticizing entrepreneurship as a fulfilling path to financial freedom, this has significantly altered the views of social media consumers. An increase in entrepreneurial intent is observed without an equal increase in entrepreneurial behavior, calling for further exploration and understanding of this development.

Ramy Abdulzaher is a social entrepreneur and master’s student at Memorial University of Newfoundland. He pursues his master’s in general management with a research focus on entrepreneurship, inspired by his personal entrepreneurial journey, combined with the goal of helping new entrepreneurs succeed through a combination of knowledge and experience.