The Study Of Private Science-technology Enterprises' Financing Problems And Solutions

Private science-technology enterprises have taken on the advantages of high growth, flexibility, a strong innovation ability and good adaptation to the diverse markets. Along with the continual development of a knowledge-based economy, private S&T enterprises are playing a more and more important role in many fields. According to the statistics of Chinese Private S&T entrepreneurs' Association, there are over 150,000 private S&T Enterprises in China, which together possess 6.3 trillion total assets and 6.1 trillion sales incomes with paying the national taxes of 295.8 billion yuan. In fact, private S&T enterprises have become the new star of the sustained national economy growth and the major propellant of the development of high-tech industry.However, in the process of economic development, private S&T enterprises lack an effective financial support system due to the market failure. The problem of funding gap is arising especially in the foundation period of private S&T enterprises. The financing difficulty has become an important obstacle to the development of private S&T enterprises.By viewing private S&T enterprises' own defects, the imperfection of the current financing support system and the constraint of financing mechanism, this paper analyzes the deep-seated reasons for financing difficulties in detail. Then, after learning from the experience of the developed countries, this paper puts forward some suggestions to improve the financial support system and solve the financing problem in view of the current financing environment in China.