With the advent of Information Technology (IT) the last decade saw the emergence of several Internet based business networks, i.e., virtual communities which permit an intensive Internet based communication between spatiotemporal disconnected participants. The technique itself is seen as a means to create trust between the members of a virtual community and to enable joint activities irrespective of the location and spatial distribution of the participants. In this context, the paper discusses the implementation and use of modern IT in networks of and for women entrepreneurs. We investigate similarities and differences between virtual and ‘traditional’ entrepreneur networks, focusing on the importance of spatial proximity for the participants of both types of networks.