^^^^Econ and business are very different courses of study. One is not better or worse than the other, but they are different. Econ is a liberal arts course of study and it gets quite theoretical at the upper levels. In contrast in a b-school programs students take a business core consisting of introductory courses in a number of business disciplines (ex. accounting, finance, IT, management, marketing etc.) and will then major in one of those disciplines.
The OP can look online to see the coursework required for both a business major and an econ. major to determine for his/herself if econ. might be a viable back up plan or not.