THE PRESENT STUDY ESTABLISHED A POTENTIAL POSITIVE RELATIONSHIP BETWEEN THE PURSUANCE OF AN MBA DEGREE AND THE EXECUTION OF ENTREPRENEURIAL ACTIVITIES BUT HAS ALSO SHOWN A CLOSE LINK BETWEEN THE LEVEL OF ENTREPRENEURSHIP AND THE PERCEIVED EXISTENCE OF CERTAIN FACTORS WITHIN THE CYPRIOT ENTREPRENEURSHIP ECOSYSTEM, WHICH IS DIRECTLY INFLUENCED BY THE CHARACTERISTICS OF THE SMALL LOCAL ECONOMY.