Research On The Financing Ways Of The Small Micro&high-tech Enterprises Based On The Lifecycle Theory

Sci-Tech micro-enterprises are the major impetus to improve a country’s innovationability. However, difficulties in financing have been the major obstacle that hinders itsdevelopment.Currently, our country’s researches on financing methods of small and microtechnological enterprises are mainly conducted from the angle of strategic support systemand policy influence.Based on life cycle theory and combined with financing structuretheory, with the characteristics of technology-based small and micro enterprises, thisarticle analyzes the financing methods of different stages.Through discussing andestablishing the financing channel system of science and technology small and microenterprises, provides valuable reference for science and technology small and microenterprises and provides theoretical support for the country’s economic development.This article is combined with the financing structure theory and combines theconstructed financing channels system with real cases skillfully in the background ofenterprise life cycle theory. At the very beginning, it generally summarizes and compareswith the researches at home and abroad of financing methods of technology-based smalland micro enterprises, financing structure theory and enterprise life cycle theory. Secondly,combining the state regulations, it defines small and micro technology enterprises,analyzes their features, and divides four stages for studying their financing means. Again,summarizes the financing means of our country’s existing small and micro technologyenterprises, and systematically analyzes their financing environment and dilemma; Later,according to the financing demands feature of high-tech small and micro enterprises in thefollowing four stages: seed stage, founding stage, growth stage and mature stage, exploresthe financing methods of small and micro enterprises in different developing stage, appliessystem analysis method to build a financing system of high-tech small and microenterprises in different developing stages of growing life cycle. In the end, based on thecase of A Network Technology Co., Ltd. in Hubei, analyzes the financing behavior, andtests the financing system based on the enterprise life cycle theory.