Don't forget though, its not always about the cheap chinese products that send a business to the wall.
In good times, lots of money equals good sales etc, so even the biggest dufus can make money, often very good money, but not everyone puts anything away for the quiet times.
When we had our own business on the Sunny Coast, we couldn't pass wind without making money... times were great.
We bought boats, choppers, Harley trikes etc, nut hey, when the bubble went pop in 2008, money got tight, real tight.
We managed to stay afloat etc and it was a separate reason in 2010 (Mum-in-laws health) that we decided to sell up, even if it meant taking a bath on the house and business to sell quickly in a quiet market.
Now we are on the Fraser Coast and when we should be morgage free, we're not.
Hence, we have sold off some stuff/toys and still have a chopper and a trike to go.
All you often hear from folks is, the GFC or chinese imports f*#@ked my business and yeah, maybe it did to a degree, but if we are really honest with ourselves, we are to blame as much as anyone.... IMHO.
From my experiences, Aussies (yep, i'm Aussie) don't like to change and i think a lot of times, in place of adapting to changes in the market, we push forward with what was working last year or the year before even if its not working this year.
I'm not saying its all the business owners fault either, same as its not all the cheap imports fault.
OK, thats my 2 cents worth, i'll go back to my corner now.