Most past studies have analyzed e-business adoption factors from a firm level perspective and also from a single country level perspective. Earlier studies have proposed frameworks which can be used with in their nation only; we in this research propose a unique framework that can be adopted by any country to develop its e-business. We present a theoretical perspective on e-business adoption factors required for a nation. Major goals of this study are (i) to review existing key literature on e-business across the countries and determine key factors affecting e-business adoption, (ii) to propose a research model based on the identified factors, (iii) to perform an empirical analysis on the proposed model using the national level macro economic data from secondary sources, and (iv) to provide practical implications to country administrators, academics and policy makers. The limitations and future directions of the study are also discussed.