| 1. The raising of the problem The situation of developing large-sized enterprises as the leading way in the domestic industrypolicies has not been changed until 1997 to recent years. During the course of economic crisis in Southeast Asia, the economic system which composed mainly by SMEs(such as Taiwan)has showed the special endurance against the sudden financing strike, and from then on, the experts of economy began paying attention to the functions of SMEs in the social economy. After that, the economic booming lasting 8 years in the United States declared the coming of New Economy Era, and established the significant status of the SMES in modern economy, because, it is the a mass of SME that play important roles in the new economy. As the stepwise reorganization of the SMEs in economic development, the problem of the SMEs' financing has been focused recently. This article is probing into the construction of domestic SMEs' financing system.2. Clarifying the research objectsTo research into the financing system of SMEs, we should make clear the concept of the SMEs. The concept of SMEs is not an absolute concept, in different counties and areas, even in some different eras in the same country; there are different standards for SMEs. These standards include the definition of quality, also the definition of quantity. For convenience, this article would define the SMEs by the quality, and we adopt the method in the Report of the Bolton Committee issued in 1971 by the United Kingdom. Mostly, the features of SMEs differ with the large-sized enterprises are: the former takes small market share; the property of enterprises is united with the business operation, the owner or some of owners would be in charge of the enterprises; in the moment of fatal decision, the enterprise would not influenced by the outers, and it is not a part of the large-sized enterprise.3. The knowledge of economic status and existing & development of SMEsTo probe into the financing system of SMEs, we should know the economic status of SMEs at first.Start form the economic life, it is not difficult to summarize the importance of SMEs. A great deal of statistical data shows us the SMEs have provided the society with above 75% employments and over 50% output. Form the practice of domestic economic operation, we could see that the booming period of the SMEs is also the time period of the economic growth.Secondly, we should research from the economic theory, and try to know the existence and development of the SMEs further.But, analysis of SMEs economic features based on the main economic theory is very difficult. The main economic theory has not paid enough attention to the SMEs, for it regards the SMEs are not belong to the stable industry structure. In the system of the main economic theory, the enterprise is just a Black Box, it takes in the resources and brings out the products, among theenterprises. There are no more differences except the diversities of invariable cost and variable cost. As the homogeneity of enterprises output exists as assumed, the enterprise activities are the different function relationship of entrepreneur's talents, capital, land, labor and producing material, the best dimension is only a point. It demonstrates essentially that the SMEs taking majority of the whole enterprises are lying as economic status of no efficiency. But, the theory of new economy has paid much attention to the organization structure of the enterprise. In the research structure of new economy, as the existence of the inner dealing cost, the output of the enterprises differ. So, the best dimension of the enterprise is not only a point, the SMEs has higher producing efficiency than large-sized enterprise. But pitifully, the new economy theory has not carried out further research into the possible margin. So, the new economy theory has only put out the reason of enterprises aggregation, but not the reason of enterprises existence.Some marginal theories has carried out discussion of the existence efficiency of...
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