Very much so! and a lot of business owners swear by it. Having a blog post for your business is one of the first things you should do and get it circulating to all of the free blog post sites. You can set up a free blog account on Google Blogger and then began to create 'traffic' by submitting your posts to free sites like 'Ping o Matic' and other similar sites.
There's no difference in cost of registering a domain name for a static site or a blog.
However, blogs are excellent for posting information suitable for your clients as it is easy to add new posts whereas with a static site you have to create/edit html pages and then upload them.
Good hosting companies that have Cpanel (ie Hostgator) provide the Wordpress script free and there are thousands of free themes, lots of free info for installing and configuring you blog.
Most of my online stores are now Wordpress blogs
It is possible to build a blog and profit from it, but the drawback with a blog is that it does take a pretty long time, from a few weeks to a few months before your blog gains momentum, and makes it closer to the front page, given that you know what key words to use.
This is the blogging website that I am currently using for my internet business.
http://feedback.ebay.com/ws/eBayISAPI.dl...
If you are thinking of using a free blog service, think twice about that if you are looking for long term. You will always be better owning your own domain name and hosting.
You could establish yourself on a free blogging platform and they may change their service or even close down and you will have nothing.
Instead of having a website it would be cheaper just to have a blog could you use that like your business website?