Yes, and more blog directories are springing up all the time.
Blogwise is a collection of blogs categorized by topic and country.
BlogStreet is a directory of blogs and RSS feeds. It includes Top 100 and Big 100 blog lists and useful tools for finding and reading other blogs.
Syndic8.com is a directory of syndicated news headlines. You can submit URLS to syndicated content, or URLS to sites that aren't syndicated yet.
Globe of Blogs indexes blogs in quite a few different ways, such as title, author, location, and topic.
If you're looking for more places to submit your business blog, Weblogs Compendium has a directory of blog directories you can browse.

