Word of mouth only gets you so far in this internet-centric age. These days, people discover new businesses—even local business—via Bing, Google, and Yahoo, search engines that make it incredibly simple to find companies' products, operational hours, and prices. If your business doesn't appear in the search results, especially on the first page, it'll be difficult for potential clients and customers to find you. In other words, no website, no money. Of course, web hosting isn't just for businesses. You may want to host a personal website or blog, too. Either way, the services here have you covered.
Some domain name registries, often called network information centers (NIC), also function as registrars to end-users. The major generic top-level domain registries, such as for the com, net, org, info domains and others, use a registry-registrar model consisting of hundreds of domain name registrars (see lists at ICANN or VeriSign). In this method of management, the registry only manages the domain name database and the relationship with the registrars. The registrants (users of a domain name) are customers of the registrar, in some cases through additional layers of resellers.