What are the most popular small businesses?

Small businesses often compete against some of the nation's largest organizations as well as against a multitude of other small companies. Retailing and service establishments are the most common small businesses. New-technology companies also often start as small organizations. 

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Below are some of the most popular small businesses.

Retailing
While general merchandise giant like Sears, J. C. Penney, and Kmart are the most significant firms in the area of retailing, they are far out-numbered by small, privately owned retail enterprises. Small business, in fact, characterizes the retailing of shoes, jewellery, office supplies and stationery, apparel, flowers, drug, convenience foods, and thousands of other products.

Service Firms
Service-oriented industries and individuals - such as restaurants, funeral homes, banking establishments, movie theaters, dry cleaners, carpet cleaners, shoe repair, attorneys, insurance agents, automobile repair, public accountants, dentists, and physicians. There are relatively few national sellers of services, except in the case of insurance.

High-Tech Firms
Many new-technology firms - those striving to produce and market some scientific innovation - typically start as small businesses, and many great inventors and technical geniuses began their business in barns, garages, warehouses, and attics. Small business is often the best option available to a scientist who seeks to make an idea into a commercial reality.

Although most new businesses, including a variety of retail and service enterprises, appear in industries that have limited capital requirements, some technical firms require substantial capital to get off the ground. 

Initial capital requirements of $1 million or more are not at all uncommon in such industries. The high entry cost is primarily due to the long time lag between start-up and receipt of sales revenue.