As far as I know you do need a host site- their name does not appear in you web address it would still be
::: YOURNAME.COM :::. You don't have to register your name through the host site though, in fact I think it is recommended that you don't. That way you can change host sites if you want without any problems. I used to have a website and I hosted through godaddy with no problems. This was several years ago so I don't have the most up to date information. Are you going to give us a hint about your business idea?
__________________
"If you have men who will exclude any of God’s creatures from the shelter of compassion and pity, you will have men who will deal likewise with their fellow men." — St. Francis of Assisi, 1181-1226