Do you have a music hobby or a music business? And does it matter? S3 Ep7

I love performing music, so does it matter whether I call it a hobby or business? Can I get paid if it is a hobby? Can I grow my music if it is a hobby? What is the benefit of having a music business and how do I set it up? I will be exploring the differences and benefits of both options, also whether you can get paid if it is a hobby, or a business.