Selection And Strategy Of Small And Medium - Sized Enterprise Financing Mode

Financing refers to the process of financing, which is the balance of the funds between the user and the owner of the fund, including the way of holding the funds and the financing of the fund holders. The financing process of small and micro enterprises(SMEs) is essentially a kind of financial activity, and it is the process of raising funds for SMEs in order to operate and develop the business. The financing of technology-based SMEs financing has important significance, which expands the consumer choice set, enhances the power of development of innovation of science and technology. Effective way of financing can expand the supply capacity of science and technology,holding a virtuous cycle funds and a higher flow of fund for SMEs. Through the literature research method, the paper collect literatures related to SMEs, including characteristics, growing processes, financing theories, financing channels and financing strategies. Besides, taking high-tech zone in Beijing, Shanghai and Taiwan as examples,this paper evaluate the financing effect of technology-based SMEs in China. Then taking SMEs in Qingdao High Tech Zone as research objects, the paper selected and analysed related influencing factors of the financing methods. Based on the relationship between selected factors and the decision of financing methods, the paper gives related hypotheses. Furthermore, this paper constructs theoretical model to explain the relationship and verify hypotheses through empirical research on 200 sample enterprises collected in Qingdao hig-tech zone. At the last part, this paper gives suggestions from the perspectives of widening financial channels, the law statute and policy, the construction of financial information platform, improving the quality of SMEs. etc for the financing decision of technology-based SMEs in the future.