After the fall of communism, the former socialist countries of Central and Eastern Europe entered the path of transition from a centrally planned economy towards a free market economy. The development of the private sector of small and medium-sized enterprises is crucial for the transition process. Yet, despite their importance, entrepreneurship literature has dedicated comparatively less space to the studies exploring the nature of entrepreneurship in transition economies. Still, most studies concentrate on developed economic regions such as North America and West Europe. Moreover, prominent entrepreneurship scholars have recently called attention for the contextualisation of entrepreneurship research. Ultimately, looking through a historical, social and cultural lens should lead to a better understanding of entrepreneurship in other contexts than mature market economies and demonstrate the diversity of this phenomenon, thus contributing to the theory development in this academic field. The following work addresses these research postulates. Based on Pierre Bourdieu's approach to capital, the author develops a model of early-stage entrepreneurship in the context of a post-socialist economy and tests it empirically, using quantitative methods, in selected countries in Central and Eastern Europe. The analysis is primarily dedicated to the effects of cultural capital and social capital of the founder on early-stage entrepreneurship.