Does business/formal wear require you to wear suit and tie?

I have to attend an interview session for some entrepreneurship workshop and am asked to wear business/formal wear. I am thinking of wearing long-sleeved shirt, formal pants and just leather shoes. But some people tell me that wearing suit and tie are also part of business wear.

"Business" wear always includes a tie, and protocol would suggest a jacket at the very least. A nice business suit would probably be more appropriate, but don't go overboard. "Formalwear" seems odd for this occassion because that suggests a tux/very nice suit (and cocktail dress for women). "Casual business" is what you're describing for yourself/proposing to wear. You may feel out of place if everyone else is dressed in interview clothes, and you're not. Maybe you can borrow something if you don't have a suit.

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