Research On The Factors Of Credit Constraints For SMEs Based On Internal Perspective

Small and medium-sized enterprises (SMEs) have become an important part of the national economy, and it plays an irreplaceable role in promoting the market efficiency, promoting economic growth, technical innovation, creating jobs and promoting international trade. Its survival and development take the wide attention of the government and all social sectors. For now, the money shortage becomes the key problem in restricting the development of our SMEs. To the fast development of the SMEs contrast: the SMEs' financing channel is very narrow, and mainly by external financing medium, especially bank indirect financing. Because of its assets less, financial information opaque, mortgage weak ability and other reasons, it is not easy for the SMEs to get funds from bank ,and this is the problem called credit constraints that the SMEs are facing to.This study, based on internal perspective, aims to research the factors that cause SEMs'credit constraint, and explores that how these factors make influence to the credit constraints of the SMEsand the influence degree, and then based on the conclusion, this study will propose some effective and feasible countermeasures to solve the SMEs'credit financing difficulties, so that the SMEs'financing ability will be improved, and at last, the countermeasures will promote the development of small and medium-sized enterprises.This study has made the SMEs of Hangzhou city and its surrounding areas as an example, and through analysis and discussion, has made the following conclusions:(1) The factors that cause the SMEs'credit constraints:: enterprise scale, the actual controller qualification, enterprise growth ,financial condition, operating risks and mortgage guarantee ability;(2) The path of how these factors giving rise to the SMEs'credit constraints : mortgage guarantee capability directly influence the credit constraints, but the other five factors not only cause credit constraints directly, but also through raising or lowering enterprise of mortgage guarantee ability and the make an influence on the SMEs'credit constraints;(3) The degree of these factors making the impact to the SMEs'credit constraints: i the financial situation has made the the greatest impact, followed by enterprise scale and growth, and then mortgage guarantee ability, the minimum affect is from business risks and the actual controller qualification.That understanding the causes of SMEs' credit constraints is an very key stop to s solve the SMEs'credit financing difficulties. Based on these conclusions, this study will propose countermeasures and suggestions. These suggestion mainly two aspects, one is for the SMEs to speed up the development of itself, the other is to optimize the exterior environment .