Research On Funding Risk Control For The Growth Of Small And Medium-sized Technology-oriented Enterprise

Aparting from the inner motivation of scientific and economic development in China,the small and medium-sized technological enterprises are also the most vigorous innovation subject, spurring the rapid growth of market economy and increasing employment. Singapore and Taiwan district were least affected while some countries which focused on construction of big companies such as South Korea and Thailand were bloodied in Asian financial crisis in1998, small and medium-sized companies won’t be ignored ever since the change of developing ideas on enterprises by our government and officials. The development of small and medium-sized technological enterprises is beneficial to encourage innovation and creation of the social culture, and to improve the whole national economic benefits. However, because of the financial crisis, influenced by a variety of adverse factors, with the feature of high risk and high input, small and medium-sized technology-oriented enterprises are seriously restricted by insufficient funds. Most of the technological enterprises are small private enterprises which were founded in a short time with bad Credit Standing, all these faults restricted their funding activities. According to the theory of enterprise life cycle, from the point of three stages of the development of technological enterprises, combined with a large number of actual cases, this thesis studies the choice of financing channel and strategy, and the prevention of financing risk. Based on the analysis of the reasons for financing difficulty, the thesis offers the effective solution.The thesis is divided into five parts. The first part is introduction, which introduces the significance and background of the subject, the domestic and international literature review, research ideas and frames, the innovation and limitation of the research. The second part mainly introduces the features and financing obstacles of small and medium-sized technology-oriented enterprises. The author further analyzes the theoretical basis of financing risk and financing risk control theory. The third part analyzes the financing methods and risk control in different phases of development of small and medium-sized technology-oriented enterprises. In the fourth part, the author adopts the empirical study in different phases of development of small and medium-sized technology-oriented enterprises on the financing risk control strategy for case study. For the last part, the author draws his conclusion and gives some suggestions based on the current economic policy environment.The innovation and features of this paper lies in:first, most domestic and foreign scholars only study the financing and financial risks of small and medium-sized technology-oriented enterprises in a single level, but it is rare to combine means of financing and risk control of small and medium-sized technology-oriented enterprises at different stages of development. Based on the characteristics of the financing demands of small and medium-sized technology-oriented enterprises, this article studies the means of financing and funding risk control at different periods of development in depth. Second, the author selects a variety of actual cases to explore the choices of the means of financing of scientific and technological small and medium-sized technology-oriented enterprises, from a systematic perspective, which makes the conclusions more convincing. The results can also guide the relevant government departments to establish reasonable and effective policies and measures based on the life periods of small and medium-sized technology-oriented enterprises.