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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.
Many services offer a low "starting price," but require you to prepay for two or three years of service to get that price. After the promotional period, the renewal price for some services can be two, three, or even four times the initial promotional pricing. While the initial deal might be incredible, the cost of transferring your site (or paying the added fee) in a couple of years may be something to consider.