In the era of digitalization, when almost every person has some form of technology in their pockets, it can be said with certainty that social media platforms have become a modern-day weapon. The importance of social media platforms in marketing communication practices is increasingly emphasized, and it is safe to say that they have replaced many different forms of media. Social media has become the first choice for marketing practices for many global and smaller brands. Today, social media networks are the primary source of information for consumers and a space where they can find information about products in line with their interests. More and more young entrepreneurs are deciding on business ventures precisely because they believe that their ideas can be a great success with the help of social media networks. This paper investigates the impact of social media platforms when starting a business. The results of a survey taken by 34 respondents who own a company's legal form are available in this paper. Examples of good practice show that social media networks are a great incentive and a great tool in starting a business. It is also portrayed that social media networks helped the interviewed entrepreneurs who participated in the survey mentioned above. This research seeks to bring more considerable importance to modern tools such as social media networks and their implementation in starting a business and in its’ further work.