Facebook

Yes both are necessary it looks professional, instead leaving it blank. Facebook business page should attract the users so profile pic and banner image plays a major role.
 
It is not necessary. You can put up a profile even without those. However, for business, you can utilize those to provide information to visitors. It's like a form of sign or banner advertising. You can use a background image that is sort of a banner that shows graphics and lettering about what your business is about. With the profile pic, you can add one too. This is your way of introducing your business to the public.
 
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