I am not a business owner but two of my siblings had their own companies and I have watched them and learned from them. My sister did not finish college but her husband had a Masters in Business. But my sister was very business-minded and knew how to deal with people. My brother-in-law was very good with numbers and business savvy since he grew up in a business oriented family and was trained even before he got his degrees. My brother has a PhD in Psychology while his wife has a degree in finance. Again, both have the "head" in running a business and know how to deal with clients and their employees. I also have seen people start a business and be successful at it without having degrees in business.
You need to have interest, passion and some street smarts in setting a business. Also ready to work long hours, learn to manage your employees, and get capital to start your business. Having a degree is helpful but I also suggest, getting a mentor, work part-time at a coffee shop and learn the business, and/or network with people who have successfully set up their businesses as well.