In modern usage, 'biz' is commonly employed in casual conversations, particularly. Idiom be the biz (definition of biz from the cambridge advanced learner's dictionary & thesaurus © cambridge university press) It typically refers to the commercial aspect of activities that involve trade, services, or any economic exchanges.
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Biz in the business topic by longman dictionary of contemporary english | ldoce | what you need to know about business:
Words, phrases and expressions | business
Biz is sometimes used to refer to the entertainment business, especially pop music or films. See examples of biz used in a sentence. How to use biz in a sentence.