Font Size: a A A

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

Posted on:2014-12-13Degree:MasterType:Thesis
Country:ChinaCandidate:Y GuoFull Text:PDF
GTID:2269330401466507Subject:Accounting
Abstract/Summary:PDF Full Text Request
Small and micro enterprises (SME) recently become a hot topic in society, the development of small and micro enterprises related to the vitality of the national economy. SME is the driving force of technological innovation. According to the statistics of the Ministry of Industry, There is more than1100million SME in China, accounting for more than97%of the total economy. Providing about80%jobs For urban and rural residents, and final goods and services accounted for more than60%of the gross domestic product, accounting for more than50%of the national enterprise tax paid. SME can promote economic development, increase employment and promote social justice, promote social development credit. However, this year, the frequent occurrence of the financial crisis as foreign external demand caused by austerity, combined with the adjustment of domestic industries, the development of small and micro enterprises faltering. In such a context, the transformation and upgrading of SME difficulties facing the problem of high cost, low technology, in particular financing difficulties, these problems have attracted the attention of the community.This article is based on the footing to explore the reasons for the formation of SME financing difficulties and trying to given countermeasures and suggestions based on what they have learned. Use capital structure theory, asymmetric information theory to analyze the financing difficulties of small and micro enterprises, well-studied previous results and make use of SME financing real case plight of the analysis and recommendations.First, the article describes the definition of the concept of SME and the world on the definition of SME, and then introduced in the use of theoretical knowledge and research ideas. On the basis of summing up the literature, SME financing difficulties divided into two parts of internal and external factors, there are many limitations because of the SME, and lower levels of management, financial systems within constraints of SME access to financial support. The external causes part of the first of some of our laws and regulations have yet to be further improved, small business support and protection policies need the support of the laws and regulations. Second, small businesses can not rely on bank loans endogenous financing, but also need the support of fiscal policy. In addition, the risk-sharing mechanisms is not yet complete, lack of credit for SME financing guarantee. Capital markets, money is not enough, the opening of the market for SME and small and micro enterprises over-reliance on bank indirect financing, bonds, funds, trusts, stocks and other alternative sources of financing small size of the market also hindered the smooth financing of SME.SME financing difficulties caused by both internal and external factors, financing problems should also be both internal and external to proceed to solve. According to the enterprise life cycle theory, in the different life cycle stages have different financing structure, financing, and risk appetite. So the article suggested that to resolve the financing difficulties of SME should first rely on internal financing.From the outside to consider, First, the bank’s support, policy support. Because bank loans are the main source of external financing of SME. Through comparative analysis, the article lists the three banks of SME and the possibility of further innovation, has put forward the Bank as the main channel of the external financing of small and micro enterprises and banks on how to better service for SME discussed. Finally, from a policy perspective, the main taxes and the implementation of the development strategy of SME, the paper proposes structural tax cuts for SME burden to establish an information platform for SME, small build SME district micro-enterprise links coexist.Financing difficulties of SME is a global problem, this paper summarizes the results of previous studies combined with the present case, put forward their own ideas and recommendations, and wish to contribute to the research of other scholars.
Keywords/Search Tags:small and micro enterprises, financing difficulties, capital structure, banksmall micro-credit
PDF Full Text Request
Related items