Windows 8 - Network Not Available

I've created a VM using Hyper-V on my Windows 8 Pro laptop. The VM launches and is fully functional except that Networking is not available.

When I select the settings for the VM and Network Adapter, the only option available in the Drop Down under the Virtual Switch is "Not Connected". Do I need to create some sort of virtual switch from my end? If so, how do I go about doing this?

Thanks a bunch.

-- Val