Most small business owners--we're talking truly small, not the Forbes definition of $5 million to $750 million in yearly sales--are grateful for any gift that helps them do their work. There's not much distinction between personal and professional life for the truly small business, and they love gizmos and doodads that increase their efficiency, let them work from wherever they are, save them time, or make them money.
The CNET Holiday Gift Guide has lots of ideas: cell phones, laptops, wireless networking devices. You have to know what to get that certain special small-business someone. If they travel a lot, maybe they want a new laptop or smart phone. If they drive around, maybe something for the car. If they own a retail shop, well, they probably want a massage, in addition to a nice point-of-sale or CRM system, if you're feeling really generous.
Most small biz owners would love to have some geekware, more than a new tie or scarf or paperweight or ashtray. Really.