This is one of those “maybe; maybe not” situations. The Brake light is there to indicate a problem in the brake system. But it could be on simply because the sensor switch on the emergency brake is out of adjustment.
Your best bet when faced with a Brake light is to treat it like it’s something serious. If your brake pedal feels soft or fades to the floor when you apply it, don’t try to drive the car. Have it towed to a repair shop.
If the brakes feel okay, you can probably drive it safely. Take it right over to your local Cottman center and have them check the brake system. They’ll be able to tell you exactly why the light came on, and what it’ll take to fix it.