High-tech Small And Medium-sized Enterprise Credit Financing Problem Research

With the acceleration of economic globalization, the competition of Science and Technology has been the dominant factor in the worldwide competition. high-tech Small and Medium-Sized Enterprises,as the micro carriers of national economic development, are becoming the important force in construction of national innovation system, with strong innovative motivation, professional innovative technology and flexible growth mechanism. high-tech Small and Medium-Sized Enterprises,who occupy small proportion in whole enterprises, create the most new technology and new products.Meanwhile,they play important role in optimizing the industrial structure, driving the birth of high-tech enterprises, and promoting technological innovative development. However fund shortage and external financing difficulties have never been relieved for high-tech Small and Medium-Sized Enterprises effectively. In the financial crisis and post-crisis, the above difficulties have been growth bottleneck of high-tech Small and Medium-Sized Enterprises, and also restrict seriously enterprise survival and long-term development. At present, compared with the developed countries, our financial system is still far from perfect and the development of Venture Capital and GEM(growth enterprise market) is still at the beginning stage. Bank credit financing will always be the high-tech Small and Medium-Sized Enterprises’ mainly financing channel in the future.This paper begins with the references concerning the financing effect of high-tech Small and Medium-Sized Enterprises. This is followed by a review of fundamental theories, including the enterprise life cycle theory, the asymmetric information theory, the institutional theory, theory of financial repression and the collateral theory. Guided by the above theories and literatures, this paper takes the XX high-tech Small and Medium-Sized Enterprise as the case and analyzes current financing state of XX high-tech Small and Medium-Sized Enterprise and the credit situation and financial terms of the commercial bank for high-tech Small and Medium-Sized Enterprise in Suzhou.According to theoretical analysis and case test, this paper has analyzed both internal and external of XX high-tech Small and Medium-Sized Enterprise. Based on this analysis,this paper has come to the following proposal improvements.Firstly, from the perspective of enterprise, which the internal reason is the root cause, XX high-tech Small and Medium-Sized Enterprise should enhance their inner quality.Secondly, from the perspective of financing institutions, financing institutions should Perfect financial system construction, improve the science and technology of small and medium-sized enterprise financing environment.Thirdly, from the perspective of the government, the government should improve the service level of government to consummate the financial ecological environment construction.