Final answer:
The exception to the Internet's impact on business is the notion that it has reduced competition for local retail businesses; instead, it has increased competition by broadening market reach and intensifying global connections through B2B websites and platforms like LinkedIn.
Step-by-step explanation:
One of the impacts of the Internet that is not true is the notion that it has limited the degree of competition for local retail businesses. On the contrary, the Internet has greatly expanded the market reach of many businesses, increasing competition significantly. With advancements in communication technologies and globalization, even local retail businesses find themselves competing with companies all over the world. Business-to-business (B2B) websites have notably allowed buyers and suppliers to connect globally, further intensifying competition. The Internet has also revolutionized the job market, making job searching and networking more efficient through platforms like LinkedIn.