Research On Financing Problems Of Tibet’s Small And Micro-Enterprise

Micro and small enterprises occupy a more important position in many economic subjects in the market.For the whole economy and society,micro and small enterprises are more like some cells at the grassroots level,which play a basic supporting role for the development of the economy and society.In addition,Micro and small enterprises also play an important role in assuming the responsibility of labor force employment,which not only increases employment opportunities,but also promotes the spread and promotion of innovation and entrepreneurship,and provides a boost in social restructuring,stable economic growth,risk prevention and the general welfare of the people.The distribution of micro and small enterprises in society is characterized by their wide scope,large number and near livelihood,etc.They are important foundation for the construction of modern economic system and high-quality economic development.The government of Tibet Autonomous Region cares a lot about the development of small and micro enterprises,focuses on the reform of "simplification and decentralization,combination of decentralization and management,and optimization of service",optimizes the business environment comprehensively,strengthens new ideas and leads new development.Both the national level and the government of Tibet Autonomous Region have formulated,amended and improved the policies on the development of small and micro enterprises for many times,and some related supporting measures are being implemented and put into practice,but judging from the effectiveness,small and micro enterprises still face a certain degree of financing problems,which makes their development more restricted.According to the statistics in March 2021,more than 90 million individual entrepreneurs in China have registered records,but only 18.34 million of them have loans,a coverage rate of just 20.38%,indicating that there are micro and small enterprises that have not received loans amounting to 80%.In the context of the recurrence of the COVID-19 pandemic,pandemic prevention and control,and stable employment and protection of people’s livelihood,the operation of small and micro enterprises are still more affected by the sharp decline in earnings,cash flow shortage,and the continuous increase in demand for new financing,and small and micro enterprises are facing a serious problem of financing difficulties.Tibetan micro and small enterprises have a thinner base and weaker foundation,and they suffer more from the impact.At the end of 2020,the balance of loans to small and micro enterprises in Tibet was 104.474 billion yuan,accounting for only 21.08% of the balance of loans of financial institutions,and the number of households with the balance of loans to small and micro enterprises was only 12438.Therefore,in order to make the current situation of Tibetan micro and small enterprises’ financing difficult to be truly improved,increase the chance of obtaining enterprise financing,and then promote the rapid growth and expansion of micro and small enterprises in the market competition,this paper analyzes the situation of Tibetan micro and small enterprises’ financing demand and supply,explores the main influencing factors,and proposes countermeasures and measures to solve the financing problem of Tibetan micro and small enterprises.Specific studies are as follows:Firstly,this paper analyzed the supply capacity and willingness of Tibetan financial institutions to carry out financing for small and micro enterprises from the level of fund supply side,i.e.financial institutions,through questionnaire surveys and expert ratings.With the help of hierarchical analysis(AHP),the influencing factors and their weights were analyzed from two perspectives of intrinsic factors and extrinsic factors and seven specific indicators such as product design and credit technology innovation ability,and it was concluded that the most important factor affecting the supply ability is the credit technology innovation ability of financial institutions as an intrinsic factor,while the second and third influencing factors are the strength of government support policies and financial infrastructure construction,respectively.The second and third influencing factors are the strength of government support policies and financial infrastructure construction,respectively,and both are extrinsic factors.At the same time,using the Probit model,we analyzed the research data of six indicators,including different types of Tibetan financial institutions,the main purpose of financing services for micro and small enterprises,and the possibility of financial institutions to obtain related profits,to study the factors influencing the willingness of financial institutions to provide financing services to micro and small enterprises.The study found that three factors were significant:the presence of strong government support policies,the possibility of profitability,and the adequacy of enterprise collateral.Secondly,from the perspective of the demand side of funds,the analysis of financing needs of micro and small enterprises should first distinguish "needs",i.e.,correctly define and identify financing needs.This paper re-evaluates the "financing difficulty" on the premise of scientific identification of formal financing demand,dividing financing demand into effective demand,invalid demand and potential demand,and concludes that credit rationing is the most prominent manifestation of the "financing difficulty",and there are obstacles to transform potential demand and ineffective demand into effective demand,resulting in insufficient effective financing demand.On this basis,an empirical study was conducted on the survey data of Tibetan micro and small enterprises sample using Probit model to analyze the effects of 24 independent variables on the loan availability of micro and small enterprises,concluding that seven variables,including the time of operation,the proportion of fixed assets,gross interest rate and government support policies,all have significant effects on the availability of financing for micro and small enterprises.Finally,based on the current situation of Tibetan regional conditions and economic and financial development,and with reference to domestic and foreign experiences in financing for small and micro enterprises,this paper,on the basis of three principles of constructing "KY system" for financing small and micro enterprises,promoting diversification of financing structure,improve the level of government-market suitability,combined with general principles of economics and management,proposes policies to alleviate the financing problems of Tibetan small and micro enterprises from two dimensions of supply side and demand side,as well as three directions of supply side marginal adjustment,supply side structural reform and demand side management.It seeks to stimulate the endogenous impetus of Tibetan financial system and market players,improve the level of marketization,break the "low-level equilibrium dilemma" caused by the "dual insufficiency" of supply and demand,alleviate the financing problem of Tibetan MSMEs,and provide a solution to the "financing difficulty" of MSMEs.The Tibetan program will provide a solution to the world problem of "difficult financing" for small and micro enterprises.