The Research On China's Private Enterprises Financing Problems

The private enterprise of our country has already become an important component of the socialist market economy. But the private enterprise has met a serious financing problem, and the financing problem has hindered the sustainable development of the private enterprise. How to solve the financing problem of the private enterprise, and realize its sustainable development becomes the key problem that the private enterprise faces, and it is also a difficult problem in front of economists and entrepreneurs. There is an important theoretical and realistical significance to study the financing problem of the private enterprise.Through methods of adopting a large number of data, charts and comparative analyses, we can find: Major indicators, such as total output value, employment volume of the private enterprise which exists mainly in the form of the company, etc. are increasing continuously, and the scale is expanding constantly. The private enterprise plays an important role in alleviating the pressure on imployment, bringing about a prosperous economy, etc. The capital efficiency of the private enterprise is higher than the state-owner enterprise. Therefore, it is very necessary to study the financing problem of the private enterprise. The capital source of the private enterprise seriously relies on internal finacing, and such problems exist as difficulty in loan, single financing channel and rely on nongovernmental debit and credit too much, etc.There are five main factors to influence the financing of the private enterprise of our country as follows: In theory, the financing transaction costs are high, and the financing gap is great. The private enterprise itself is with small scale, backward family management style and poor credit. As to financial institution, the state-owned commercial banks lack the corresponding incentive mechanisms of increasing the credits to the private enterprise, information asymmetry exists between the financial institution and the private enterprise, financing space belonging to the private enterprise is small, and our country is short of small and medium-sized financial institutions. On the capital market, the listing terms of the private enterprise are rigid, the financing channel of the bond is not smooth. For the society service, it lacks the organization specially serving for granting the loan in the private enterprise, defects exist in mortgage guarantee system, and relevant laws and regulations also needimprovement.In the light of the factors of restricting the financing of the private enterprise mentioned above, proposals to solve the financing problem of the private enterprise have been put forward, including learning from the experiences of the developed countries to promote the small and medium-sized enterprises, strengthening the self-building of the private enterprise, enlarging the steps of the financial institution reform and innovation, setting up multi-level capital market, and perfecting the government's service system, etc.