Will not taking AP Calculus hurt my chances of getting into a good University?

Be aware that some universities require some business majors to take a class called Calculus For Business. It’s not as intense as the calculus that Engineering majors would take, but it is calculus. Obviously, if you take Calculus in HS, it will help prepare you for this type of class in college.

However, before you make this decision, you should take a look at the required classes for your intended major at the colleges you plan to apply to. My son is a Business Econ major and he will have to take Calculus For Business. He has friends majoring in Econ and/or Business at other universities, and they have no such requirement at those places.