The study examines, on the one hand, the mediating role of entrepreneurial skills in the relationship between knowledge and entrepreneurial potential; and, on the other hand, the effect of parental educational attainment and its interaction with knowledge and skills. A total of 537 (47.3% women; M = 18.15 years; SD = 5.36) students from lower secondary school, upper secondary school, and vocational training took part. Scales measuring entrepreneurial knowledge, skills, and attitudes were administered, and the data were analyzed using correlations, tests for comparing means, mediation, and multiple regression. The results showed no differences in knowledge and skills according to gender or year group, although male students and vocational training students demonstrated greater leadership. Knowledge was not directly associated with entrepreneurial potential but was indirectly associated with it through skills. No effects of paternal educational attainment were observed, whilst maternal educational attainment did show an association in interaction with skills. Educational implications and future lines of research are discussed.