When I think of a retail business I think of the expansive market of selling products or services. For example a barber, a restaurant, stores in a mall are all retailers to me. The retail business is the easiest market to break into and there are several competitors selling the same or similar products for competitive prices. However, there are different levels of competition depending on what retail market you get into. There are perfect competition markets, like the one just described. There are also markets with a monopolistic competition, where there are only a few competitors and the firms are able to influence the price of the product on the market by increasing or decreasing production. (I know... you didn't think you were going to get a quick economics lesson today). Anyway, there are several different types of retail businesses. Compendium Blogware for example sells a service for a company to increase its marketing efforts by having its employees write blogs about their work. This in turn increases SEO and helps out the company sales.
There are several different types of retailing though, and if you are wanting to become an entrepreneur, find a need that people might have and fulfill that need.
