A cheap web hosting does not mean that it is not good. If it is able to perform for you, then it is a smart investment. Most people turn to cheaper host because they can't afford it. Even so, they might still get the most out of their money spend. All that they have to know is advantages and the disadvantages in the cheap hosting.

For a cheap host, you could probably get 100MB space of storage. This storage space is considerably enough for you to have banners in you website. You could also get as much as 19 email account registered under that host. As for the bandwidth, you can have up to 1GB which is considered good. It also comes with ready made templates so that you don't have to crack your brain to figure out complicating programming and designing languages to build a website.

As for the disadvantage, you would have to be in a sub domain because cheap or free host would not provide you with your own domain. For free hosting, you will not have any email function. Therefore, if you are running a business, you will not look professional because you don't have an email attach with your domain. The same thing applies on your database. You have many limitations and will not be able to upload files as you wish.

For conclusion, free hosting is definitely an option but please consider you business needs and nature. Make a smart choice. Investment is always normal in business and investing in a website for the right reason will just give you great return when the time is ripe.