There are only really three things to look out for in a web hosting company:
1. Customer Support: Your hosting provider should ideally provide for 24/7 support. This is especially important if you are located in a different time zone from your hosting provider, since YOUR business hours might not neccessarily be THEIR business hours. Before signing up, do check on their availability by making a surprise call in what is peak business time for you and seeing how quickly they respond.
2. Infrastructure: Check on their infrastructure. Are their data centre’s secure? Do they offer hosting using machines running the latest processors? If you are not sure of the technical jargon ask a geeky friend to advise you!
3. Financial Stability: You cannot afford to sign up with a company that might be out of business in a few months. Even if you have to pay a bit more for your hosting, it would be worth it in the long run.