ENTREPRENEURIAL RETRENCHMENT AMONG SMALL MANUFACTURING FIRMS

Small manufacturing firms have limited options when attempting financi al turnaround. The share-building turnaround strategies espoused in th e literature are simply beyond the means of most small firms-especiall y those in the throes of the financial strain that led to the turnarou nd situation. This study focused on turnaround strategies that represe nt feasible alternatives for low market share business. The result sho wed very positive results for firms that confronted decline with a com bination of costs and asset reductions herein referred to as entrepren eurial retrenchment.