The overall aim of our study is to improve the understanding of the complex forces underpinning new firm formation. For this purpose, we integrate two so far unrelated research perspectives into one holistic framework, namely the hierarchical structure of entrepreneurship determinants on the one hand and process-related aspects of new business creation on the other. Building on Giddens’ structuration theory (1984), the hierarchical analysis considers individual characteristics as well as regional and national context factors as determinants. With respect to the dependent variables, we follow a process perspective of entrepreneurship and distinguish between three phases of new firm creation and between general and ambitious entrepreneurship.