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A large amount of research work in e‐business concerns the experiences and lessons learned from developing and implementing innovative e‐business models. The findings of this research usually concentrate on financial aspects or on the use of information and communication technologies in a specific company or industrial sector. While this is critical for understanding and replicating positive business results, we argue that it is as important to understand the societal context in which business models are developed; it is social issues that define (constrain or enable) the broader context of e‐business adoption. This paper aims to draw research attention to these social issues and suggests societal factors that influence the adoption of e‐business models. Specifically, the paper argues that factors related to region/geography, culture, the legal and regulatory environment, economic, ethical and professional factors, as well as factors related to social capital/social networks and social structure influence, directly or indirectly, the way in which e‐business models are perceived, implemented and evaluated. Three cases are presented to show how these factors become evident in e‐business, followed by a discussion of their managerial implications. The aim of the paper is to sensitise managers and policy makers in shaping an enabling societal context for the proliferation of socially acceptable business models.