Research On Countermeasures To Financing Of Small And Micro Enterprises In Jilin Province

After thirty years’ development, small micro enterprises have become a majorforce of stimulating economic growth in Jilin province, and an important economicpillar of maintaining social stability. Along with the national policy tilt to small microenterprises, governments at all levels and regulatory authorities made a number ofmeasures. Specific financial products have been increasing, and the financingenvironment has been greatly improved. However, difficulties in financing have beena bottleneck that restricts survival and development of the small micro enterprises inJilin. The financing gap is large, the financial channel is not smooth and the financingcost is high. Vigorously supporting all kinds of small micro enterprises has become anurgent strategic task of Jilin Province.The generation of small and micro enterprises’ financing difficulty involvingmultiple factors such as the enterprises’ own quality, financial system and nationalmacroeconomic policies. First, in terms of enterprise internal, operation scale is small,mortgage guarantee is not enough, and enterprises’ own management is nonstandardand even lack of credit. Second, in terms of financial institutions, direct and indirectfinancing ratio is uncoordinated, multi-level capital market has not yet formed and thefinancing channels are narrow. Third, in terms of macro policies, although the statepromulgated a series of policies to promote the development of SMEs and requiredfinancial institutions to tilt to small and medium-sized enterprises, it has not yetformed a complete financial policy system to support the development of small andmicro enterprises, the credit guarantee system services are still not perfect. It is a systematic project to solve the financing problem of small and microenterprises. We need to joint the efforts of small and micro enterprises, governmentdepartments, bank financial institutions, insurance and other parties. First, strengthenself-construction of small and micro enterprises. The strategic managementinnovation, enterprise system innovation and marketing management innovation needto be strengthened. Second, improve the finance ability of financial institutions tosmall and micro enterprises. We need to innovative financing model first. Financialinstitutions need to implement the innovation of financial service and product andstrengthen the innovation of guarantee variety and mode. In this way, we can give fullplay to the role of multi-level capital market, improve the fund of various growthstages and promote credit system construction of small and micro enterprises. We alsoneed to build a service system of small and medium-sized commercial banks. Itmeans to organize the city commercial banks and county small and medium-sizedcommercial bank. The last, we should take the differentiation regulatory policy. Itmeans to increase the efforts of policies that support the financing, relax the standardsof accountability for the non-performing loans and accelerate the market-orientedreform of small micro-lending rates. Meanwhile, it is necessary to optimize the loanapproval process and enhance the risk identification capabilities of bank and financialinstitutions. Third, strengthen the support of government policies. We need to enhanceservice awareness, further strengthen the functions of government services, establishcredit information database and enhance the transparency. The next, increase thepolicy fiscal and financial support. We should establish small and micro enterprisespolicy banks to provide loans, increase the fiscal and tax policy support and thedelivery of government special funds, and strengthen bank and financial institutions’financial support and fiscal policy support to security agencies. Then, accelerate theconstruction of the credit guarantee system. We should accelerate the legal systemand regulator’s construction of guarantee system, establish and improve the multi-level security institutions mechanism, and strengthen risk compensationmechanism construction of the guarantee companies. Then create a credit guaranteefund for small and micro enterprises, strengthen the social credit system construction,increase the efforts of guarantee innovation and broaden the financing channels. Last,regulate the private credit market. We should create a regulatory system,standardizing the private lending market and expand the financing channels of smalland micro enterprises by clarifying the legal status of private lending.