Of SME Financing Problem Analysis And Countermeasures

The SMEs of our country play pivotal roles in promoting economic development, providing jobs and leading technological innovation. Ensuring their sustained and healthy development will progress our society development and boost economic growth. However, the development of SMEs has always been faced with financial constraints. The global financial crisis triggered by the U.S. subprime mortgage crisis makes it even more difficult to finance the SMEs. In the financial crisis, the financing channels of SMEs blocked much obvious in China. Banks and other financial institutions slow down the lending rate of capital, reduce the size of loans and carefully choose the lending object in order to ensure the safe of capital; Security Markets freeze the IPO and trade bleak. In this context, the paper tries to analyze the impact factors of SMEs financing and the real financing needs of SMEs after the financial crisis, then accordingly analyze the financing effects and limitations of the existing financing channels. And finally put forward sound financing channels to improve the financing environment, offer suggestions to solve the financing problems of SMEs and help SMEs out of the crisis.During the demonstration process of this paper, the basic principles integrated of finance, economics, business management have been used. Theory and practice method is used, for example, using the capital structure theory to guide the analysis of SME financing; Survey research and data analysis methods are used, for instance, takes the Zhongguancun Science Park in Beijing for example to reveal the changes in demand of SMEs financing in the financial crisis; Comparative analysis method is used, describe the successful experience of the U.S. SME financing, then put forward corresponding countermeasures combined with the reality in China.The feature of this paper is avoiding the analysis on the causes of the financing difficulties, analyzing on the basis of the results of previous studies, using theory to guide the analysis process and emphasizing more on practical significance. Carry out specific analysis by take Beijing Zhongguancun Science Park as an example to make the analysis of this topic more intuitive and the solutions more feasible. In addition, this paper put particular emphasis on the timeliness to the global financial crisis triggered by the U.S. subprime mortgage crisis as the background, analyze the influences of the external environment changes on the corporate finance needs and the financing effects and limitations of the existing financing channels, and finally put forward sound financing channels and the feasibility of proposals to improve the financing environment. These suggestions include, strengthen self-accumulation capacity of SMEs and enhance resistance to the crisis; establish and improve a multi-level capital market to meet the listing and financing of SMEs and the financing needs of issuing bonds; strengthen financial institutions, actively nurture small and medium financial institutions and so on.