The entrepreneur’s household context has been largely neglected in entrepreneurship research. Most studies focus on the individual entrepreneur, the venture or the broader socioeconomic environment in which the firm is located. However, for individual entrepreneurs, their paramount concern is likely to be the well-being of their household. For enterprises that are inherently associated with an individual entrepreneur, there are profound interdependencies between the business and the household. Beyond the deployment of household resources in the business, business decisions and routines will be predicated upon the needs and deeds of the household. The demarcation of assets, incomes and expenses between the household and the business is often blurred, and the business lifecycle will probably parallel the household lifecycle. This chapter develops a theoretical framework that allows a richer conceptual understanding and empirical analysis of such interdependencies and the ways in which they circularly impact on the choices, actions and well-being outcomes of enterprises and the respective households. The framework not only contributes to the growing recognition of context within the contemporary entrepreneurship discourse, but also provides a conceptual launch pad for new research and policy discussions into the well-being impacts of entrepreneurship on individuals and households.