I'm 99% sure shares are top level only. I've been in the docs extensively for the past few days setting up my system and working on that tutorial. With that said, someone may pipe up and prove me wrong
With that out of the way, for what you have shown you would need shares for Media, Business1, Business2, and Personal. Anything inside those shares would just be a folder/directory. The upside is that it's easy to configure, the downside is that you can only set permissions on the shares themselves and not at the folder level inside the shares, but that's beyond the scope of your question