Changsha Small And Medium-sized High-tech Enterprise Financing Strategy

Changsha is the Capital of Hunan province, it is the political, economical and cultural center of Hunan. The development of Changsha is very important. "One dot one string" strategy and "Chang Zhu Tan economy integrated" strategy were brought forward by the government of Hunan in order to expedite the development of district economy. After implementing the prior development strategy to the area where there has better basis, the whole province can be developed. Two strategies focus on expediting the development of Changsha. According to the spirits of the province government, the decision- makers of Changsha government work hard to implement the strategy of "Science and education advance city" strategy, bring forward the thought of "High-technology accelerate economical development". High-tech small and medium sized enterprises are going to develope under these strategies. These enterprises faced with the most common problem ?short of capital in their development, because of the high risks and information dissymmetry. How to solve the bottle-neck problem- lack of finance is becoming the most important problem to the High-tech-SMEs.This paper uses the theory of investing and financing, starts with the development status of Changsha High-tech enterprises, analyzes internal and external reasons of their high speed developments and the factors holding back their further developing, and bring forward the needs to solve the finance problem of Changsha High-tech-SMEs. Working around this problem, the paper analyzes the status of changsha investing and financing systems, studies the financing environment around Changsha High-tech-SMEs, and tries to find the finance strategies which fit with High-tech-SMEs under the economical environment nowadays of Changsha. The paper argues that High-tech-SMEs had different characteristic in different stages cause their different finance needs in different stages. After analyzing the relationship of High-tech-SMEs and different kinds of finance sources, the paper come to the finance strategies of Changsha High-tech-SMEs facing with bankers, leasing, angels, venture capital, listing on the second board. In the end, the paper makes a case study. Rongzhi co. is developed stronger and stronger, because that it made different finance strategies according to different stages. Through the case, we can easily come to the conclusion: If Changsha High-tech-SMEs want to develop healthily and continuously, they must fix on corresponding finance source and establish appropriate finance strategies.