A family of Microsoft spreadsheet software with tools for analyzing, charting, and communicating data
All 365 licenses allow you to use it on up to 5 devices at the same time.
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You cannot use 365 Personal or Family for "business" (see Clark's reply for the legalese).
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For use in your business you need one of the 365 Business licenses.
Even though 365 allows you to use it on multiple devices, the 365 license is granted to a specific user, through their email account. So as I understand it you are supposed to get a 365 license for each user.
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Here is a link with basic information about various business licenses. You should be able to get by with 365 Business Basic for each user. That gives them access to the "online" versions of the Office apps. That is adequate for inputing information.
. https://www.microsoft.com/en-us/microsoft-365/business/compare-all-microsoft-365-business-products
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So, to be fully compliant you would need multiple licenses. You will probably need to go with "Shared computer activation" since you have multiple users on the same device. I don't think it will save you any money
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Your best bet is to talk to a MS "Partner" company. They can help you get the best solution. This link will help you find "partners" near you
MS Partner locator
This website locates legitimate MS Partners for you: https://www.microsoft.com/en-us/solution-providers/home You can change country at bottom left corner of the page.
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Overview of shared computer activation for Microsoft 365 Apps – multiple users on same device (Education and Business)
10/19/2021
https://docs.microsoft.com/en-us/deployoffice/overview-shared-computer-activation
Shared computer activation lets you deploy Microsoft 365 Apps to a computer in your organization that is accessed by multiple users.
Shared computer activation is required for scenarios where multiple users share the same computer and the users are logging in with their own account.
- Three workers at a factory share the same physical computer, with each worker using Office on that computer during their eight-hour shift.
- Fifteen nurses at a hospital use Office on ten different computers throughout the day.
- Five employees connect remotely to the same computer to run Office.
To use shared computer activation, you need an Office 365 (or Microsoft 365) plan that includes Microsoft 365 Apps and also supports shared computer activation. Shared computer activation is available for the following plans:
- Any plan that includes Microsoft 365 Apps for enterprise (previously named Office 365 Plus). For example, Office 365 E3 or Microsoft 365 E5.
- Any plan that includes the desktop version of Project or Visio. For example, Project Plan 3 or Visio Plan 2.
- The Microsoft 365 Business Premium plan, which includes Microsoft 365 Apps for business.
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