<p>It's both and it depends. A degree that lacks true educational substance probably won't go far. A general education alone without a degree might be enough and might not, it depends on what one can make of it, but certain doors will never open if you don't have the degree to knock on them with. This may be irrelevant if one goes into business on their own. In the technical area, degrees tend to be more necessary. In certain other areas (medical field for example), a degree is imperative.</p>