Two Apple IDs - one for business and one for personal
Yes - you can split accounts on one device and this is just about the only case where I would say you would want to make a second AppleID.


Just be really careful when you sign in - in general don't accept or enter the AppleID in any set up screen as that places the first AppleID in all the slots. Decline the easy set up and choose app by app which you want to use for App Store, for iCloud, for messaging, email, etc...
You will run into device limitations for Two factor and Two Step auth - watch out, Apple had both and they are easy to confuse and don't do the same thing or meet the same requirements.