A Study On The Small And Micro Enterprises’ Crowdfunding Financing Issues

Small and micro enterprises’financing has been an obstacle to the development of China’s real economy. In recent years, progresses made by the internet financing have brought the dawn to solve this problem, with crowdfunding, as an important branch of the internet financing, being gradually known by the public. Following European and other countries who have introduced bills to legalize small and micro enterprises’equity crowdfunding financing pattern, the domestic authority also gave a nod approval to its development. This thesis aims to explore financing innovations of the small and micro enterprises. High efficiency, low cost, and short cycle are the characteristics of crowdfunding financing, which meet the financing needs of small and micro enterprises and also a useful supplement to the current traditional financing channels. It is the common aspiration of China’s small and micro enterprises, crowdfunding platforms as well as the general public investors to make the small and micro enterprises’equity crowdfunding financing pattern legalized.This thesis introduces the concept, features and development history of crowdfunding financing plus advantages of small and micro enterprises’crowdfunding financing, summarizes the characteristics of small and micro enterprises’financing and internal as well as external causes of the financing difficulties, in addition, briefly describes the current situation of internet financing of small and micro enterprises. This thesis lays its emphasis on analyzing the key factors and methods of the small and micro enterprises’financing. After reviewing the relevant provisions towards the equity crowdfunding of the U.S.JOBS Act and its enlightenment to China, the author makes a detailed exploration of the equity crowdfunding and return crowdfunding financing method in small and micro enterprises as well as its application scope. In addition, the author also analyzes the mechanism of crowdfunding financing, showing the flow path of small and micro enterprises’equity and return corwdfunding financing, summarizing specifically four main factors in the small and micro enterprises’crowdfunding process from a financial point of view. Besides, this thesis has expounded the above issues detailedly supplemented by two company cases successfully using the crowdfunding pattern to finance. In the end, focusing on the external environment and its own problems,the thesis sums up both the existing deficiencies and the improving directions of China’s small and micro enterprises’crowdfunding financing, while with great expectations, the author puts forward possibilities to make crowdfunding financing in small and micro enterprises widely promoted.