Many professions and trades require that your education (whether at a distance learning college or a campus college) be accredited by their professional/trade organizations, such as in teaching, engineering, nursing, medicine, accounting, architecture, insurance, real estate and others.
Employers do not generally require professional accreditation for most business degrees. If you want to become a teacher in business, however, it would be better to make sure your school has professional accreditation. Even if a business school is not accredited by a business accrediting agency, you still need to make sure that your choice of school has regional accreditation.
Generally, if your state licenses your profession, then you will probably need your school to be professionally accredited.