Research On The Small And Medium-sized Enterprises' IPO From Enterprises' View

The small and medium-sized enterprises(SMEs) in our country have become an important part of the national economy and been contributing to the economic development more and more with the rapid devdopment these years.However,they commonly confront with the lack of funds and the relatively weak strength.The scarcity of funds which are the life lines to the survival of the enterprises restricts the investment of new items,and has become the bottleneck of the enterprises' development.That establishing the SMEs' direct financing system has been proved in practice to be an effective solution to the problem.The capital market in our country is on the turning point now and gradually enters into the healthy development track.New statutes further optimize the enterprise's financing environment and the relevant rules about IPO has been improved.So the small and medium-sized enterprise is facing a brand-new historical development opportunity to finance through the capital market.In order to help the SMEs prepare well for IPO and develop healthily and rapidly by virtue of the capital market,this article analyses the SMEs' weaknesses about the forms of organization,management institution,internal control system,talent and financial operation from the perspective of IPO,and introduces the optimization of the conditions about IPO according to the current environment.Combining with the relevant rules about IPO,this article points out that SMEs face many difficulties in the process of preparing for IPO.For example,in the aspect of body qualification,the enterprise must have been operating for over 3 yeats since it becomes a limited liability company.In the aspect of independence,it shouldn't manage in the same trade or trade unfairly with its controlling shareholder,actual controller and other affiliated enterprises controlled by either of which.In the aspect of operation,it has to comply with the statues of listed companies.In the aspect of finance,it should offer the true financing information according to the relevant rules.And it should make good use of funds in the aspect of funds collecting.The SME should pay special attention to these problems and devote to establishing proper capital structure,optimizing reorganization behavior, establishing modern enterprise system,perfecting company management,making financial operation standard and analyzing the utilization of funds scientifically.Finally ,the suggestions about improving SMES'S IPO are put forward.The development trend of the SME board and how the SMES enhance their growth are also studied in light of their deficiencis in this paper.