Why businesses require website ?
1. A Domain Name
This is the number #1 thing you need - Your very own.com domain name, which costs less than US$10.00 annually to get one.
The domain name that you choose must be along the lines of the market that you are in. And as a guideline, your domain name must be such that, at one glance, people will know what your website is going to be about.
You can get a domain name from either Namecheap or GoDaddy.
2. Web Hosting
After you have gotten your domain name, the next thing you need is a web hosting (so as to allow you to host the files for your website).
There are many web hosting providers for you to choose from - And when it comes to choose a web hosting provider, do not just go for the cheapest. Rather, you should go for one that has minimal downtime (meaning the web hosting service must be up and running at least 99% of the time), and also one that provides round-the-clock live support (so that you can contact them at any time of the day when you run into problems).
If you are building this Internet business for the long term, then you would need to build up your client base - And how you can do so is collecting your prospects information (in particular, their first name and email address) in your website.
4. Statistics Analyzer
After you have gotten your website up and running, you would need a way to out how many visitors visit your website on a daily basis, their duration of stay, which pages did they navigate to when they are in your website, from where did your visitors visit your website from, etc. - With these statistics, you will be able to optimize your website so that you will be able to get even more traffic.
When it comes to choosing a statistics analyzer, I would strongly recommend Google Analytics - This tool is free to sign up and it provides very comprehensive statistics about your website.
5. Link Cloaking
Finally, you will need a link cloaking tool to help shorten your links - Especially those that are very long. This is so that your visitors will be able to easily remember your links.
Another reason is that, especially if you are an affiliate marketer, it helps to "mask" your affiliate ID from your visitors - So that your affiliate commissions will not get hijacked (when people replace your affiliate ID with theirs before they visit the product salespage).
There are many free link cloaking services that you can make use of, such as TinyURL, SnipURL, Bit.ly, etc.