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"long-term business" is correct and usable in written English.
You could use it to refer to a commercial enterprise that has, or is intended to have, a long lifespan. For example: "Our family has been engaged in long-term business for many generations."
Exact(54)
Pensions are a long-term business.
What fuels long-term business success?
As a long-term business strategy, Nooyi's plan makes sense.
Winemaking is a long-term business requiring long-range planning.
"This not a long-term business, like a funeral parlor".
This looks less and less like a long-term business strategy.
Similar(6)
It states a clear, long-term business-led problem and offers a clear, long-term business-led answer.
It is increasingly becoming a survival issue for long term business growth.
What happens when pursuing a Shared Value impedes the development of long term business value?
Long term, business will stay good.
Successful entrepreneurs have a long term business vision.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com