In the current background of a new economy normal, this paper studies modern entrepreneurship determinants from the perspective of the historical origins, which not only helps explain regional differences of the Chinese entrepreneurial activities in theory, but also provides new clues for the current economic growth. The paper conducts an empirical study about the impact mechanism of cultural traditions of the business as historical factors on the entrepreneurship based on the Chinese provincial-level unbalanced panel data. Empirical research shows that, in areas with richer business cultural traditions, it is more conducive to cultivate and propagate the modern entrepreneurship of innovation or venture, namely the inheritance and nurture of modern entrepreneurship has a clear path-dependent characteristic. In order to weaken the endogenous problem that may affect the estimation results, this paper uses commercial loans and the literacy rate as instrumental variables of cultural traditions of the business, and the estimation results once again confirm the above conclusion.