Absolutely not. Especially in this economy.

The web-hosting business is currently over saturated and unless you can differentiate yourself or market to an underserved niche, you won't break out big.

Also, as with many businesses, you have to be able to withstand at least 1 year with no profits as you grow your company. If you don't have enough financing to do that, then you don't have enough financing to start a company.

And the first and foremost thing to do before moving on to the next step in creating any type of business is to come up with a business plan. Businesses without plans are planning to fail.