Earlier studies on e-business adoption factors have been conducted from a firm level perspective or from a single country level perspective. In this study, we propose a framework entitled country characteristics- business-technology-government model that addresses a theoretical perspective on e-business adoption factors required for a nation level e-business development. The major goal of this study is four-fold: (i) to review existing key literature on e-business across the countries and identify key factors affecting e-business adoption, (ii) to propose a research model based on the identified factors, (iii) to test the proposed model empirically using the national level macro economic data from secondary sources, and (iv) to provide insightful discussions for country administrators, policy makers, and academics. The limitations and future directions of the study are also discussed.