businessman vs businessperson

businessman and businessperson both are nouns.

Word	Noun	Adjective	Verb	Adverb
businessman	Yes	No	No	No
businessperson	Yes	No	No	No

As nouns, businessperson is a hypernym of businessman; that is, businessperson is a word with a broader meaning than businessman:

businessman: a person engaged in commercial or industrial business (especially an owner or executive)
businessperson: a capitalist who engages in industrial commercial enterprise

Other hypernyms of businessman include bourgeois, adult male, man.

businessman (noun)	businessperson (noun)
a person engaged in commercial or industrial business (especially an owner or executive)	a capitalist who engages in industrial commercial enterprise