The same story applies to hosting except the choices for buying this "housing" are a little more complicated. For a startup site however, I would recommend getting the smallest packages many companies offer.
For example, my favourite host without a doubt would have to be Frozen Webhost. The owner Steve is extremely reliable and even as I speak right now - he is Online on my MSN, which means whenever I have a problem I can let him know, and he sorts out everything for me. His smallest package offers:
10GB Bandwidth - The amount of information your visitors can download from your site in 1 month, like pages and images.
1GB Diskspace - The amount of information you can actually store on your hosting account.
Unlimited Email Addresses - The amount of email addresses you can create.
Unlimited SQL Databases - The amount of Forums, Blogs and Other cool stuff you can host and create.
For a beginning website which will have not that much traffic this is perfect, and it has certainly been enough for me for Blogtrepreneur.
Other hosts include:
www.dreamhost.com">Dreamhost
www.hostgator.com">HostGator
www.blurstorm.com">BlurStorm
In my opinion these are the only hosts that you will ever need. The important thing to look for in a good host is customer support. If they have good reviews and deal with you as a customer well - then you will be more personally attached to the people and so will be more likely to stay with them throughout your stay on the internet.
Hopefully these services should be adament for the young entrepreneur wishing to buy domains and hosting, but please let me know if you think I have missed anything out.
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