The Countermeasure Research On Solving The Financing Problems Faced By Small And Micro Businesses In Our Country

The proportion of the production and total tax by small and micro businesses has already been more than50%in the national ecomomic.Small and micro businesses effectively improved the economy system of our country;greatly enriched our people’s material and cultural life;furture more,it promoted our social employment.Small and micro businesses are playing a more and more important role in the social.However,small and micro businesses belong to the vulnerable groups in our economic system.and always take "scale discrimination"and "ownership discrimination".Under "the new credit rationing",although samll and micro businesses are willing to take a higher interest-rate,it’s difficult for them to get the organ support.The shortage of funds directly affected the survival situation of small and micro businesses.and constrained their development.The price of the raw materials and labor cost rised that,the industial profit space has been compressed ceaselessly,The chain of fund is so fragile that,some of the businesses owner chosed to collapse,or even to"play drum-spend".It caused a bad social impact,and destroyed the immature credit system.The case of WuYing in2011brought the defects of financial system in the teeth of the storm.The distortion between the enterprise and fund supply has been one of the outstanding contrdictons in the economic area.It’s proved by the experience of the developed countries that, the development of small and micro businesses is derectly related to the nation’s economy level.The practice of our country’s reforming and opening told that.in the area, where small and micro businesses developped faster,the economy grew faster.How to solve the financing difficulty of small and micro businesses,prove and protet the small and micro businesses growing rapidly,has been a major problem related to the benefits of the country.In this paper,we defined some related concepts,as small and micro businesses,corporate financing and capital structure.and based on the theory, such as captital stuture theory,asymmetric information theory,then,resesched on the relevant literature of asymmetric information in contemporary enterprises financing and the effect of financial system.Based on the results of previous studed,our following study laid on a solid theoretical foundation.By the analysis of the overall financing situation and representative enterprise financing case,we found that,the small and micro businesses financing difficully is determined both by microscopic and macroscopic factors.The small and micro businesses operators are allways short-sighted.They are lack of reasonable stategic planning,the management and internal control are not perfect,human resource and core competition are weak.For the macroscopic aspect,the financial system and financing market do not matched.The direct financing market and indirect financing market is extremely lopsided.The financial system had many defects that.related laws and regulations lack of security,security agencies did not fully play its roles,and the credit system is not perfect.That all the above forming the bad finacing environment for small and micro bussinesses.In the formal financial market,implementations is under the interest contron by policy.Financial market access standards is stingent.The market is not active because of the main body’s deficiency.The asymmetric information universally exist that the financial institutions can not judge which enterprise is high-quality.Therefore,they don’t have a strong will,and prudent to lend to small and micro businesses.A large number of borrowing needs of high-quality enterprises is shelved.This paper argues that, among those factors in the small and micro businesses’s financing,the insurmountable information barriers between the borrowers and financial institutions is the most fundamental,and that our financial system and the capital market do not match is the most important.Finance is the core of macroscopical adjusting control.To solve the financing dilemma faced by small and micro businesses,we must improve the nation’s fund supply.And the change should be implemented from finance reform first.Therefore,we should start both from intermal and external aspect.The internal aspect,small and micro businesses must proceed itselvs and enhance the cohesion of the community,to avoid vicious competitions,and echance the scale of stength.The external aspect,the reform of the financial system is the most crucial.The finance deepening work should be implemented step by step.Finance market of our county is still immature that interest liberalization is said too early.Therefore, the current direction and the main focus of our finance system reform should be improving the indirect financing system based on banking institutions.So,the large state-owend banks should reform its credit mechanism.and the small and medium-sized banks should accelerate their development,and the innovation of financial products and services should be actively promoted.The financing dilemma faced by small and micro businesses is a global ecomomy and social problem.My point of view is just to see one spot,in the hope of playing a certain role in alleviating the contradiction of fund supplys and demands.