For business needs you may need to look for a website hosting company that offers more space as you may have more graphics and files that you plan to use.
Additionally, business hosting packages can offer more features that an online store requires to operate such as credit card processing, shopping carts as well as provide databases for you to use in your applications. Business website hosting packages should also provide you with enough bandwidth to support your daily traffic as well as reports to help you learn more about your visitors such as how many unique visitors you had, how were they referred to your website and what pages did they view. Most website hosting companies offer monthly packages as well as long term hosting packages. The longer you sign on for the larger the discount you could receive from them. If you are building a personal website you may want to stick to a short month to month hosting agreement as you may lose interest or find you do not have the time to maintain your site. However, if you are committed to the project and feel your site will be around for years to come, definitely sign up for a longer hosting agreement and take advantage of the discounts! As there are many website hosting companies available competition between them has led to an increase in perks for the consumer to attract your business. Many are now offering credits for advertising space on yahoo.com or godaddy.com in addition to free domain registration if you host with the company. Take your time when you begin your search and look at a few places before you settle in on one and make sure they offer everything you need now as well as the future!