https://www.techradar.com/news/everything-your-business-needs-to-know-about-vps

Most of us have heard of shared hosting, for personal use, and dedicated servers, which power large company infrastructures. However, if your business sits in between personal use and such enterprise giants, there is a third alternative, VPS.

VPS (virtual private servers) are isolated virtual environments created from a physical server through a process called “virtualisation”. This means that in effect you can have your own customised server solution at a fraction of the cost of an entire dedicated server. One bare metal server came home several VPS’s at once. The other massive advantage of VPS hosting is scalability: depending on your needs at any given time, you can easily add or remove resources and only pay for what you are actually using.