While the code you showed works without problems, provided you use \newcommand rather than \renewcommand, I can't recommend doing so.
\documentclass{article}
\usepackage{amsmath}
\newcommand\beq{\begin{equation}}
\newcommand\enq{\end{equation}}
\begin{document}
\beq
a=b
\enq
\end{document}

Why do I recommend the fully spelled out version? There are several reasons, but here are the main ones.
\begin{equation}...\end{equation} can easily become \begin{equation*}...\end{equation*} for the unnumbered version (and conversely
You can look for environment nesting without distinguishing special cases
The code with explicit \begin and \end tag is more prominent when skimming through the typescript
Such shorthands cannot be used for align and the other amsmath display environments.
Littering a typescript with obscure markup is a bad thing. Really. Laziness can be implemented through the shortcuts provided by your text editor: every text editor provides them or, at least, a way to define new ones.
Personally, I don't even use shortcuts: typing \begin{equation} is as easy as remembering a shortcut.
amsmaththen it is explicitly documented that you can not replace the environments by command forms. (although you presumably would use\newcommandnot\renewcommandunless those names have been defined previously) – David Carlisle Dec 19 '16 at 16:21\beqis not defined, you should use\newcommand. But *don't*, you'll soon regret having done it and having littered your document with obscure markup. – egreg Dec 19 '16 at 16:26\begin{equation}...\end{equation}for you (I just typeeq<tab>using snippets in vim). Using macro short-hands when you collaborate isn't really possible and journals don't like them either. If you intend to never show you documents to anyone else, and always work alone, this is of course fine. – Dec 20 '16 at 03:22