Entrepreneurial experiences within the (wider) family were generally found to offer positive role models. Naturally, the decision to enter entrepreneurship also is influenced by the individual resource endowments of potential entrepreneurs such as access to financial capital and the level of human capital, with the latter generally being high in most transition countries. In this context, the paper sets out to investigate entrepreneurs, their characteristics and their origins and background in Latvia, which is one of the most advanced transition countries, having joined the European Union in 2004.