It means 'business'
.BIZ (Business) - This is a gTLD that is generally registered to classify their website as a business. Although it's not a commonly recognized extension, I feel that it's a great alternative if the .COM extension isn't available.
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".biz" is a TLD (Top Level Domain) meant for business domain names.
There are no specific legal or geographical restrictions to register a ".biz" domain name, except that it's supposed to be only for "bona fide business or commercial use".
There are a total of about 280 different TLDs, the best known of which are ".com", ".net", and ".org".
Also, most countries have their own Top Level Domains, such as ".ca" for Canada, ".jp" for Japan, ".mx" for Mexico, and so on.
It is an alternative top-level domain (TLD) designated for businesses, which formerly only had the .com TLD available to them. It is a phonetic spelling of the first syllable in the word "business" ("biz-nis," as phonetically spelled in a dictionary). It was used to alleviate the demand for .com domains, which dominates the number of registered websites on the internet at this time.
It is a form of TLD (Top Level Domain) like .com or .net.
It was specifically brought in for businesses.
Answer courtesy of: Cornwall Domain Agency