If you're not sure of the type of hosting your business needs, you might want to start small, with shared Web hosting. You can always graduate to a more robust, feature-rich package of, say, VPS hosting or even dedicated hosting in the future. Unfortunately, some hosts don't offer all hosting types. Consider how much you expect to grow your website, and how soon, before you commit to anything longer than a one-year plan. It's worth spending the time up front to make sure that the host you select with is able to provide the growth you envision for your site, as switching web hosting providers midstream is not a trivial undertaking.
Unlike shared or VPS hosting, dedicated hosting makes your website the lone tenant on a server. To extend the housing metaphor, having a dedicated server is like owning your own home. The means that your website taps the server's full power, and pays for the privilege. If you're looking for a high-powered site—an online mansion for your business—dedicated hosting is the way to go. That said, many dedicated web hosting services task you with handling backend, technical issues, much as homeowners have manage maintenance that renters generally leave to their landlords.