Yes, but why?
I'd say yes too, but why bother? If your old PC in Win98 you wouldn't gain much, except a rather sluggish XP home PC. At the moment, I dont know of anything that won't run happily on 98, except games....
Furthermore, you speak of a business use. Now if that means networking, you can't with XP home above an absurdly limited network level (home networking right?), so you're talking XP pro then, much more expensive, and demanding, yet 98 would still be perfectly happy....