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Studies on spatial logics of companies’ establishment more often tackle this question in terms of strategic choice of companies seeking to profit from the effects of proximity. This paper proposes to explore territorial determinants of entrepreneurial activity from the point of view of the entrepreneurs rather than from that of the companies. Starting from a research of the biographical trajectories of creators of companies, this study shows that far from limiting itself to a strategic positioning within a competitive market, the choice of the localization of the company is strongly related to social membership of the entrepreneur. By focusing the analysis on the question of the territory, one observes that their entrepreneurial project often reveals a desire to remain or to return in their native place (here, South-West of France). One can then interpret this form of territorial anchoring as deriving from a logic of maximization of the resources resulting from networks of relations founded locally than as a result of subjective logics of symbolic attachment to the territory.