It would depend on the age of your Mac and what OS you are using. In 2017 (for 2016 tax prep), the supported Mac operating systems were 10.10 Yosemite, 10.11 El Capitan and 10.12 Sierra. The current supported versions are 10.17 Catalina, 11 Big Sur and 12 Monterey.
The problem is that several of the steps in between dropped support for older applications, especially 10.15 Catalina. If your Mac is running Catalina or higher, it probably can't open a program designed to run on Yosemite.
There is a chance that the program is actually compatible but it is being blocked from running because Apple's built-in security doesn't recognize the software publisher as being authorized (because the 6 year old security certificate is expired). Locate the program icon in the applications folder and right-click or control-click on the icon and select Open from the menu options. You may be warned the program is potentially unsafe with the option to open the program anyway.
Even if you could manage to install the 2016 program it most likely will not work st this late date since you cannot get updates for it or the state programming.
OP is asking about TT Business, which does not have a Mac version.
If you are truly asking about TurboTax Business, not TurboTax Home & Business, it only runs in Windows. You cannot install it on a Mac.
All versions of TurboTax for 2016 are no longer supported. If you are getting an error trying to install it, TurboTax support is not going to help you. And, as Critter-3 said, even if you could install it you would not be able to get updates or state programs.