This study focuses on the factors that lead individuals to create new ventures. It draws on the social psychology literature and applies the theory of planned behavior to understand and predict nascent entrepreneurship. To test the integrity of this theory in predicting entrepreneurial behavior, this study uses data from the Global Entrepreneurship Monitor (GEM) research program in Peru. The findings of the study provide partial support for the theory. Implications of these findings are discussed. © 2011 de Cladea.