Specific ones? It's hard because small businesses are, well, small and not well-publicized.
My father operates a small business, though, in the live music industry, while living in a remote part of the country.
You have fewer opportunities to accumulate capital which means you're more vulnerable to changes in the market, e.g., the economy collapsing as it did in late 2007.
If someone else decides they want your pie, you have little means to defend yourself and don't have the option of moving into another market segment if necessary.
In general I'd say smaller markets mean you can make fewer mistakes on your path to success. You are more exposed in almost every way.
