There are several types of hosting that exist and not all hosting is created equal.
Types of hosting
This is the most common type of hosting for most people's websites but it's not the most ideal type of hosting for a serious business as it tends to typically be of sub-par quality. Since the server where your WordPress website resides is a target for attackers, using sub-par quality or shared hosting can make your site more vulnerable to being compromised. While all hosts take precautions to secure their servers, not all are as vigilant or implement the latest security measures to protect websites on the server-level. Shared hosting can also be a concern because multiple websites are stored on a single server. If one website is hacked, attackers may also gain access to other websites and their data.
Dedicated ServersThese are similiar to VPS Cloud hosting however they tend to be more expensive. They are private/unshared physical servers which are used only by you.
VPS Cloud hostingThis is Skunkworks preferred type of hosting. We utilize DigitalOcean which is fast, private, and very affordable. You can learn more about DigitalOcean here.