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Renting server space to ‘host’ your web site

This is actually the easy part.  Pick Hostgator or a hosting company like Hostgator.  You’ll be fine as long as your company has many of the same features, support, and Cpanel.  I always recommend Hostgator but I also will evaluate any other website company that you may want to use other than Hostgator.  
A hosting company is where your website files will be uploaded or installed on.  This process is easy and the companies support will help you with anything you need in regards to using the features that they provide.  This part is usually something you don’t have to worry about because it’s taken care of by the web designer as part of designing the website.  If you have a good hosting company then you will rarely need them.