The Research On Financing Risk Of Small And Medium-Sized Enterprises

The small and medium-sized enterprises can bear less risk for the characteristics of smaller size of assets, less money, stronger management risk, lower credit level. When borrowing money from the financial institutions, especially big banks, the small and medium-sized enterprises usually face with tough conditions and high financing cost,which restrict the development of small and medium-sized enterprises. But financing risk may derive from all kinds of respects, such as small and medium-sized enterprises themselves, financial institutions, policies developed by government. And it’s important to identify and guard against financial risk of small and medium-sized enterprises.The first part of the paper summarizes the research results of the predecessors, and finds that most of the predecessors took normative researches on financial risk of small and medium-sized enterprises, and hardly took empirical researches which becomes an innovation point of this paper. The second part clarifies two concepts of small and medium-sized enterprises and financial risk. And this part introduce the financing theories,financial risk types, and financial risk control strategies of small and medium-sized enterprises at the same time. The third part mainly analyses the causes of financial risks of small and medium-sized enterprises. The forth part builds the assessment system for the financial risk of small and medium-sized enterprises. The fifth part inspect the assessment with the actual financial data of Changlv Co.,LTD., and the results prove that the assessment system is feasible and reliable. The six part puts forward with some advice from three inspections of small and medium-sized enterprises, financial institutions and the government.This paper introduce five financial theories and deeply analyzes the financial risk causes of small and medium-sized enterprises. Based on the financial risk factors and the characters of small and medium-sized enterprises, the paper build an assessment system for the financial risk of small and medium-sized enterprises. Then the paper takes Changlv Co.,LTD. as example to inspect the assessment system.