Yes, you need web hosting to have a website.
You can have a domain name without having hosting but nobody will be able to find your business since the domain will be “parked” at the registrar. Domain names and web hosting are essentially “attached at the hip”.
Your domain name will be pointed to your web hosting provider which will host all of your files and content. This will allow your visitors to use your domain name exclusive to your business.
At Backlight Hosting, we offer both domain name registration and web hosting! This helps simplify website administration by having them both in one location.