Regarding business hosting, Cloudways is also able to handle business class web servers and even announced today staging capabilities that business, publishing, agencies and more app critical firms require for performance and testing. Support chat is also a big plus for wpengine who also has staging and good backup capabilities. Support response time is critical for business sites and the pricing is typically 3x per instance higher plus companies should always retain a specialists even with managed hosting partners.
Shared hosting is web hosting in which the provider houses multiple sites on a single server. For example, Site A shares the same server with Site B, Site C, Site D, and Site E. The upside is that the multiple sites share the server cost, so shared web hosting is generally very inexpensive. In fact, you can find an option for less than $10 per month.