What is a domain name?
Look at the URL of this page, the string singhost.net is the domain name. There are two parts to a domain, the domain name itself (singhost), and the TLD (top level domain) extension (.net).
The most popular TLD is the .com extension, it is synonymous with online business. But due to its popularity, getting a good domain name with '.com' is hard - most have been bought and are not available.
Most TLDs have a meaning behind them - .EDUs are used by educational institutes, and .ORGs are supposed to be used by non-profit organizations. A domain with a TLD of 'co.uk' is very likely British-based. There are other TLDs too, such as .cc, .tv, and .tk. These are all associated with either a company or with a country (such as .com.sg).
Having your own domain is very important for your business. It sets you apart from everybody else, and gives you a brand to work with.
