This paper presents a preliminary framework of opportunity recognition in the Hong Kong small and medium enterprises (SMEs) context. Guanxi and four trait variables, namely self-monitoring, extroversion, selfefficacy and creativity are the independent variables while the number of opportunity recognized by entrepreneurs is the dependent variable in the framework. The model indicates a mediation effect of guanxi between self-monitoring and the number of opportunities recognized, and between extroversion and the number of opportunities recognized. Meanwhile, SMEs marketing characteristics are determined by personalities and behaviour of the entrepreneurs as they do not conform to the traditional marketing theories (Gilmore et al., 2001). This paper provides new research directions to the field of SMEs marketing
