Drawing on the uncertainty management theory, this study explores whether the business environment influences entrepreneurs’subjective wellbeing and how this relationship varies by entrepreneurial type. Specifically, this study examines the effect of business environment on the subjective wellbeing of opportunity entrepreneurs and necessity entrepreneurs. Using data from the Global Entrepreneurship Monitor, the World Bank’s Doing Business Report, and the World Development Index, a multilevel database is constructed, covering 69 countries and 19 577 individuals. The model is tested using multilevel linear regression. The results show that the business environment has a positive effect on entrepreneurs’subjective wellbeing, and the subjective wellbeing of opportunity entrepreneurs is higher than that of the necessity entrepreneurs. Furthermore, the positive effect of the business environment on subjective wellbeing is stronger for opportunity entrepreneurs than for necessity entrepreneurs. This study extends the significance of optimizing the business environment from encouraging entrepreneurial entry to enhancing entrepreneurs’subjective wellbeing. However, it also highlights that such optimization may widen the wellbeing gap between opportunity and necessity entrepreneurs. These findings contribute to the literature on the antecedents of entrepreneurs’wellbeing by integrating macro and microlevel perspectives. This study provides valuable insights for improving the business environment in China to enhance the wellbeing of both opportunity and necessity entrepreneurs.