Entrepreneurship is a complex socio-economic phenomenon, the attitude to which in society is ambiguous. Despite the fact that its significance for society is difficult to overestimate, it is not always positively perceived by the population. The existing distrust to businessmen (entrepreneurs) is most often associated with their insufficiently high culture. Therefore, the problem of studying its current state, structure and functions, as well as formation factors, is relevant from both a practical and theo- retical point of view. The purpose of the article is to determine the structure, functions and factors of the formation of busi- ness culture, examined from the perspective of its further improvement. The methodological basis of the work is the systemic and structural-functional approaches, as well as sociological concepts of culture and entrepreneurship. It gives an interpre- tation of entrepreneurship and its essential functions; the concept of “business culture” is defined from the standpoint of the activity approach; the analysis of the structure, functions of the business culture and the factors of its formation are stressed. Based on the conducted analysis, three levels of entrepreneurial functions are distinguished. The implementation of these functions is facilitated by one or another type of entrepreneurial culture. The article considers such basic types of entre- preneurial culture as technological, legal, economic, communicative and personal, and identifies the possibilities of each of them to implement the essential functions of entrepreneurship. The dominant factors of its formation are presented as determinants of improving the culture of entrepreneurship: achievements in science and the development of advanced technologies, the socio-economic and political situation in society, and national and religious culture.