The key difference is that the Qantas Business Rewards is a program for businesses and Qantas Frequent Flyers is a program for individuals.
To be part of the Qantas Business Rewards program you need to have an ABN and once registered, you can earn points on your business expenses (if the product or service is from one of the program partners) or on eligible flights. Qantas Points earned by the business can be transferred, at a minimum of 3,000 per transfer, to an individual’s Qantas Frequent Flyer membership account and used for rewards.
Frequent Flyer members who fly for business reasons continue to earn their Qantas Points and Status Credits as normal, however the business can now earn Qantas Points on top of what the traveller earns. When the business wishes to use the points earned via Qantas Business Rewards, it can transfer points at a minimum of 3,000 per transfer to any nominated Frequent Flyer, who can then redeem them for flights, upgrades, in the Qantas Shopping Rewards Store and much more.