Using same Mac as personal computer for business purposes (BYOD) - can two separate user accounts on Mac each use their own Apple ID?

I'm considering proposing to the company management, the use of personal Mac for business purposes (BYOD) and having business data security concerns in mind, is it possible to open business user account on personal Mac, and configure this account to use separate "Business" Apple ID, while still leaving personal account with personal Apple ID on the same Mac functional as well?

This way personal data would be completely separated from business data, wouldn't it? And then it is possible to switch off syncing business data, business login credentials to iCloud. There are no other devices (like iPad or business iPhone) that would be used with this business Apple ID, just the Mac.

And if the need arises, simple deletion of business Apple ID, and complete deletion of this business user account on private Mac would ensure that business data is removed from the private Mac, would it not?

Would that be sufficient from business data security perspective?

Any thoughts are welcome