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As a business owner for an informal business, do I need to dress corporate to work?

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One of my friends is of the opinion that dressing corporate to work as a business owner makes the customers that come and the people around take you serious. But seriously, I am a Jeans and T shirt lady and I don't own a formal business. Just a fashion house.

Do I need to dress corporate to my business place?
 
For a business that does not really require you to dress cooperate, i don't think there is anything wrong in dressing normal. Dressing cooperate in this case might even make some customers feel awkward.
 
I am a fan of formal wears. And I would gladly wear my formal clothes to work even if I own an informal business.
 
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