Small businesses across the country are hurting right now. The retail industry in particular, because it depends so heavily on holiday sales, is experiencing the extreme pain of economic turmoil.

Sageworks Inc., which develops financial analysis tools for private companies, identified five sectors of small (less than $10 million in annual sales) retailers being hit particularly hard this season.

  • Florist: sales are down nearly 15 percent
  • Clothing: sales are down an average 0.44 percent.
  • Home Centers and Hardware: sales down an average 3.75 percent.
  • Beer, Wine and Liquor: average sales growth of 2.05 percent, compared to 5.30 percent in 2007.
  • Specialty Food: a 6.98 percent increase in sales thus far in 2008, which is down from the 7.94 percent increase last year.
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