Research On Phased Financing Strategy Of High-tech Small And Medium Sized Enterprises

The high-tech enterprises develop gradually with the establishment of market economy system and continuous perfection of the modern enterprise system. The high-tech SMEs play a role that can't be substituted in promoting the national economy development. The high-tech SMEs face with various difficulties in the developing process. For instance the high-level managerial talent lacks, the fund short, the market occlusion and so on. The crucial problem for the survival and development of the high-tech SMEs is the fund short which has limited the healthy development of internal high-tech SMEs. It has important practical significance to promote high-tech SMEs development in the research of difficulties and problems and the solution discussion in the high-tech SMEs development.This article uses the method which unifies the theory exploration and the case analysis. It synthesizes the life cycle theory and analyzes the high-tech SMEs'status quo and existent problems. It puts forward financing strategy adapted to the high-tech SMEs in this foundation. This article includes the following five parts:The first part proposes the topic background as well as the research significance. It analyzes the financing theory research status quo in and abroad for high-tech SMEs.The second part summarizes the basic characteristic of the high-tech SMEs. It divides the high-tech SMEs life cycle into four stages of the seed period, the newly established period, the growth period and the mature period.The third part analyzes the financing status quo, existent channels and manners of Chinese high-tech SMEs. It makes the further analysis of main reasons caused to current financing difficulty.The fourth part first proposes that making the high-tech SMEs'financing strategy is a principle which must be observed. Above this foundation, It analyzes the different financing strategy which corresponds with the growth stage in the different growth stages of the high-tech SMEs. The fifth part is the case analysis. It analyzes the financing strategy during the seeds period, the newly established period and the mature period of Asian Info Company. It applies theory to reality and confirms the rationality and accuracy of the staged financing strategy.