The Research On Financing Plight And Countermeasure Of Small And Micro Enterprises In Liaoning Province

Corporate finance has always been one of the core financial management, the conditions of which have a profound impact on business and development in a company. In1970s, the introduction and the development of the asymmetric information theory have opened up a new direction for the research of corporate finance. Compared to medium and large enterprises, small and micro businesses are facing the serious problem of information asymmetry and higher business risk. With the status and importance of the small and micro enterprises in the social and economic development in China have become increasingly prominent, the financing problems of small and micro enterprises have gradually become a hot research topic in the fields of finance research. By the end of2010. there are10.23million small and micro enterprises in China, which supply85%of the urban and rural jobs,60%of the gross domestic product (GDP) of final goods and services and54.3%of the enterprises nationwide paid taxes.Because of their disadvantages, the financing problems of the small and micro enterprise are particularly serious. The influence factors of the small and micro enterprise financing sources can be divided into internal and external factors. First of all. due to the small and micro enterprise’s small scale, lack of collateral arrived potassium, poor management, operational risk, financial unsound, financing knowledge and lack of information and other features make its own financing capacity poor. Second, the low degree of marketization of China’s financial market and the growth retardation of financial institutions lead to the small and micro enterprises in China to adopt a few financing channels. In addition, the financing of small and micro enterprises also faced with the form of national macro-economic, national credit policy, credit rating system and the legal system’s imperfect development. The series of problems should be solved.There are1.8328million private enterprises in Liaoning province,99%of which are Small and Micro Enterprises. Small and Micro Enterprises in Liaoning province has an important place in the economy. As the "Leading enterprise" in the new economic development in the early30years after the construction China. Liaoning province was seen as the Republic’s eldest son, is the gathering place of the large and medium-sized state-owned enterprises. Small and Micro Enterprises started late, having less experience of exploring the adaptation law. Large and medium-sized enterprises financing environment is still much better than the Small and Micro-enterprises. In recent years, although the authorities in Liaoning province has taken a number of measures, for example, to introduce "billions for SMEs financing scheme", establishing "Liaoning SME industry Fund", backed by the financial fund to support small and medium enterprises development, encourage small financial product innovation in micro-enterprises, and so on, but the financing difficulty of small micro-enterprises still are restricting the economic development of Liaoning Provincial.In this paper, we make the small and micro enterprises in Liaoning Province as the research object, and make sampling survey. Understand the basic characteristics of the small and micro enterprises and production and business operation based on the analysis of current, Liaoning Province, small and micro enterprise financing. Using principal components factor analysis, from multi-faceted, analysis the impact factors of its financing difficulties. Learning from the United States to address the financing difficulties of small and micro enterprises, we make suggestions and countermeasures to solve the financing plight of small and micro enterprises in Liaoning.PartⅠ, introduction, make a broadly description of the background and significance of this study, and described the research methods and ideas. Then, summarized the research framework and content. On this basis, find the innovation of this paper and shortcomings; PartⅡ. the theory and literature review, provided an overview of the theoretical basis of the study, and make review and comments of previous research on small and micro enterprise financing. Then find the starting point of this study; Part Ⅲ, The operation and development of small and micro enterprises in Liaoning Province. First of all, define the range of small and micro enterprise. Second, analysis the development and characteristics of the small and micro enterprises in Liaoning Province, then, describe the status and role in economic development of them; Part Ⅳ, it is the core part of this paper and the empirical analysis section. First, according to the questionnaire, analysis the characteristics of the sample companies and business profiles. Second, make an in-depth analysis of the capital position and the financing difficulties of the sample companies. Third, use survey data and principal component factor analysis in SPSS, to identify the main factors of the financing plight of small and micro enterprise. Finally, on the basis of the above analysis, from both internal and external aspects, analysis the root causes of the financing plight of small micro-enterprise. Part Ⅴ, learn from the United States to address the plight of small and micro enterprise financing mode. Combining the above survey analysis and findings of the small and micro enterprises in Liaoning Province, from the external environment and to optimize its own, we find countermeasures and suggestions to solve the financing difficulties of small and micro enterprises in Liaoning Province; Part Ⅵ, to sum up a conclusion.