I have developed a business directory module which would suit your needs. It's not listed in my regular modules for sale, but it may suit your needs. It includes a page for each business, activities and industries categorisation, customised search, inbuilt tagging and tag clouds contact details and individual business link click / page view / CTR tracking. The module is optimised for SEO and uses friendly Urls, customised meta tags and descriptions and has given very good google results in the past.
The module is implemented on the site http://www.auctionlink.com.au/ where it is used to index Auctioneers and Valuers, but can be customised for any types of business and geographical grouping.
The module also has an 'events' extension which allows individual businesses to list items like sales and offers, but this is not part of the base 'Directory' module, and it sounds like you probably don't need this functionality.
If you're interested, please get in contact with me at http://www.ifinity.com.au/Talk_To_Us/
-Bruce