Complete fallacy...
First of all, I'll clarify that I'm absolutely NOT anarchist. That ideology is as utopian as communism/socialism. However, as the founders in their incredible historical wisdom intended, the federal government is a necessary evil and therefore should be limited to the absolute minimal scope necessary. One of those ACTUAL legitimate responsibilities of the federal government should be to break up monopolies. So that's point #1.
Point #2: small business would be able to compete MUCH easier than it currently can with all the burdensome regulations & barriers to entry that exist in most industries. Higher minimum wage, regulations, licenses, and higher corporate taxes disproportionately harm small businesses exponentially more than large corporations.