The sentence

Our business stands out from our contemporaries.

forces business and contemporaries to be compared as though they were the same class of object, when what you really wish to compare is your business and the business of your contemporaries. Therefore, to be clear and precise in modern English you should compare those things, as follows:

Our business stand out from the business of our contemporaries.

Or, in case you are using business as a count noun to denote that each of your as a business that does not part of a common set of features, try

Our business stands out from the businesses of our contemporaries.

You can avoid repetition, if you wish, this way:

Our business stands out from that of our contemporaries

or

Our business stands out from those of our contemporaries.

The sentence

Our business stands out from our contemporaries.

forces business and contemporaries to be compared as though they were the same class of object, when what you really wish to compare is your business and the business of your contemporaries. Therefore, to be clear and precise in modern English you should compare those things, as follows:

Our business stand out from the business of our contemporaries.

Or, in case you are using business as a count noun to denote that each is a business that does not partake of a common set of features, try

Our business stands out from the businesses of our contemporaries.

You can avoid repetition, if you wish, this way:

Our business stands out from that of our contemporaries

or

Our business stands out from those of our contemporaries.