I have used HostGator since 2001 so I'm not familiar with any other host. And yes you'll definitely want to use the Wordpress self hosted platform. So you'll need a domain name, hosting account and then you'll upload your Wordpress blog through your cpanel via your hosting account.

You don't want to use the Wordpress.com platform because you cannot monetize it so for business purposes it wouldn't work.

Looking forward to seeing what you decide to do.