I own 25% of a small business that has been doing poorly. Is their any consequence for trying the same type business with some else?

Are you only a minority shareholder?  In general, absent an agreement to the contrary, minority shareholders do not have a duty not to compete with the corporation in which they hold shares (assuming that they do not using any of the corporation's assets, including proprietary information, to do so).  If the corporation is a close corporation (has few shareholders), majority and/or controlling shareholders might have such a duty, but minority non-controlling shareholders would not.  However, if you are also a director, officer, or employee of the corporation, you may have a duty not to compete with the corporation, even absent a contract so stating.  Also, it is not uncommon to find provisons which restrict the right to compete in shareholder agreements, or employment agreements - if you are party to either or both, you should review them carefully before proceeding.  Finally, even if you can freely compete, you can't use any of the corporation's assets - employees, telephones, office space, proprietary information (which, in some cases, can include customer lists) to do so.