The report, titled The Stealth Revolution, finds evidence pointing to a growing generation of niche-focused SMBs using the Web to target specific markets. Not only are these companies making use of new technology, but they are also taking advantage of an increased consumer interest in buying products online. Together, this has inspired SMB owners to construct new and interesting Web-based business models.

"The strategic use of technology is no longer just the domain of big enterprises," says John Lee, Hostway's vice president of marketing. "The rollout of new Web-delivered and Web-based services is accelerating. And as it happened with many earlier technologies like personal computers, desktop publishing, e-mail and e-commerce, innovative small businesses are in the vanguard of taking advantage of the new capabilities."

Taking a different path than the high-visibility dot-com operations of the 1990s, today?s Web-based SMBs are quietly making their mark on the business world from under the radar.

The study also pointed towards key trends and future developments for business analysts to keep an eye on, as well as profiles of three SMBs that illustrate the innovative and groundbreaking new attitude of the ?Stealth Revolution."