There is more than one answer to that question, but they involve additional
questions.
The short answer is "No," if by that you mean can two or more people update
the same RECORD at the same time.
The short answer is "Yes", if by that you mean can two or more people update
DIFFERENT records in the same database, or even within the same table at the
same time.
The questions come next. Do you have a (properly designed) database in which
the data is separate from the interface? I.e., are the tables in one mdb (or
accdb) file and the forms, reports, queries and code in another? If not
that is the very first thing you should do in any case: Split the database
into a Front End (FE) and a Back End (BE) with tables only in the BE.
Does each user have their own, separate, copy of the FE? If not, they
should.
Is there a single copy of the BE located on a shared folder so that each FE
can be linked to it? If not it should be moved to such a location.
And, does each of your users have full read-write permissions on the shared
folder where the BE resides? They'll need that.
Also, have you turned of Compact & Repair on Close? That needs to be turned
off to avoid issues with multiple users.