Small And Medium-sized High-tech Enterprises Financing Problems Research

In today’s era of knowledge economy, in today’s increasingly globalized world economy, the role of high-tech industries of the country’s economic development to highlight the growing, has become an important symbol to measure a country’s economic competitiveness, the high-tech industry has been widespread concern. In China, the rapid development of high-tech industries, and achieved great results. We find more and more small and medium enterprises, especially small and medium-sized high-tech enterprises both in the number or role, have become an important part of the national economy can not be replaced, has become to promote the economic development of a country and region, the upgrading of the industrial structure, development of new industries, and open up new channels of employment an important force and the country’s economic development an important growth point. But the financing problems of SMEs is a worldwide problem, is an important factor restricting the development of small and medium-sized high-tech enterprises.However, due to the small and medium-sized high-tech enterprises in China overall strength is not strong, asymmetric information, the SME credit guarantee system is not sound, relevant support policies are not in place, the risk of market imperfections and other factors make China’s small and medium-sized high-tech enterprises in the prevalence of the financing problem shortage of funds is a key factor restricting its development. Only effectively solve the financing problems of small and medium-sized high-tech enterprises, the establishment of financing mechanisms for small and medium-sized high-tech enterprises from outside the enterprise to improve the macroeconomic environment and strengthening of small and medium-sized high-tech enterprises in the construction of two scientific, systematic and comprehensive construction, to small and medium-sized the potential energy of the development of high-tech enterprises play, to play a greater role in the economic development and social stability. Analysis of the reasons and propose corresponding solutions will contribute to the financing of small and medium-sized high-tech enterprises play an active role in the development of enterprises in the future, is to study the significance.In this paper, a combination of theory and practical methods, in accordance ask questions, analyze and solve problems in a logical ideas, theories expounded by financing small and medium high-tech enterprises, with specific funding status of Weifang dimensional Communication Technology Co., analyze the causes, and the use of non-parametric tests and linear regression model correlation structure of the life cycle and empirical finance, high-tech enterprises how to choose the appropriate financing strategies based on the characteristics of the different stages of the development of empirical analysis. The conclusion that only their own national policies and financial systems work together to solve the tripartite Weifang, financing difficulties of small and medium high-tech enterprises conclusions.Summarize, the paper includes the following sections:the first chapter Introduces the background and significance of this paper, the main research content and research methods Summary of home and abroad, the paper. Summary of the second chapter the theory of high-tech small and medium enterprises financing. Introduces and describes the concept definition of small and medium high-tech enterprises and characteristics, types and characteristics of small and medium high-tech corporate finance, as well as financing and other related theories, below for further research laid the theoretical foundation. The third chapter of small high-tech enterprises in Weifang City financing conditions and problems. This section chose a typical representative of Weifang High-tech small and medium enterprises-Weifang Vital Communications Inc. for a specific case, combined with the company’s financing state analysis, in-depth analysis of the company’s financial problems and obstacles, and from the internal and external aspects of the terms analysis of its causes, and also reflects the profound current financing difficulties of small and medium high-tech enterprises in Weifang City real problem. The fourth chapter based on small and medium high-tech enterprises in Weifang enterprise lifecycle financing strategic choice. Empirical studies on the correlation between the life cycle of small and medium high-tech enterprises and their financing strategies, based on the life cycle of high-tech enterprises divided on the use of non-parametric tests and linear regression models for empirical testing, combined with the above conclusions, a detailed analysis of Weifang small and medium enterprises in the high-tech start-up, growth, maturity and decline financing strategies that should be taken. Countermeasures and suggestions Chapter Weifang City financing of small and medium high-tech enterprises. For the existence of problems and obstacles in front of factors, from their own building, improving financial institutions and government policies to improve the three main aspects of the status quo is proposed to improve and optimize the financing of small and medium high-tech enterprises in Weifang City countermeasures and suggestions. Think small and medium high-tech enterprises should enhance their own strength, and strengthen financial management, while improving the financial markets, the development of small and medium financial institutions, small and medium high-tech enterprises to improve the bank’s credit management practices; improve the venture capital market, the establishment of line with international practice, social and scientific risk operation mechanism; perfect high-tech small and medium enterprise credit guarantee system, and increase government support for small and medium high-tech enterprises, in order to effectively solve the financing difficulties of small and medium high-tech enterprises, and promote the development of small and medium high-tech enterprises. Chapter Ⅵ Conclusion and Outlook. The main point of this paper summarizes the generalization of the study and research prospects and shortcomings are discussed.Through this study, I hope to give small and medium high-tech enterprises in Weifang City, reasonable suggestions, so that enterprises in the process of growth and development of more efficient use of the financing was obtained, so as to strengthen and expand the business to provide strong financial security.