In my opinion, as long the products of one's business don't compete with the ones offered with well established companies or trading businesses (mainly in his area), no one would bother to ask about any degree. Fortunately I had a BS from a local university since many around me were thinking I am just a smart amateur perhaps because I never try to show up as being a scientist or intellectual person.
On the other hand, when I got my BS, I may say I was an ignorant engineer, practically speaking. I discovered later while I continued my studies to get the MS degree that what I was taught (in electronics) at the previous university were wrong or incomplete at best. The irony is that after I finished successfully, at a good university abroad, all the required courses and the thesis project (a very simple DSB-SC demodulator hence novel till now) I had to return home rather quickly and start seriously my private business... obviously without the MS degree. Since then, my customers were my judges to who I do care listening and I am always pleased to learn and share anything new and useful with a real scientist.
Kerim