I think it depends on the type of business that you are trying to start. A local business such as a restaurant would do better to make OfferUp postings and build a website to try and get local SEO. That would be a priority over starting a YouTube channel. Same for things like landscaping and window washing, plumbing and so on. Unless your operations are really fancy, they don’t make for good video footage.
A handmade business needs an Etsy presence, Amazon presence, etc. But once that is established, a YouTube channel to take people “behind the scenes” into the process can help buyers appreciate the finished product.
What I think would benefit from video presence is online businesses like blogs and forums. It isn’t too hard to convert a blog post to a video, and the video content can refer back to your post, thus giving you more eyeballs on your writing. A poetry reading can refer back to the published poem, for example. This helps with awareness, harnessing the power of YouTube to bring more people to your work.
If there is an educational angle to your business, starting a YouTube channel can help as well. Online tutoring, classes of any kind, that kind of thing. The more knowledge and entertainment value your business provides, the more your business will benefit from a YouTube channel.