The Analysis And Countermeasures Of Domestic SMEs’Financing Issues

In process of the gradually mature development of Chinese market economy, SMEs play an irreplaceable role, particularly in the aspects of increasing market dynamics, improving the economic strength, increasing employment, promoting the progress of science and technology. However, due to the characteristics of SMEs itself and the limitations of the external environment, the SMEs face the financing problem which has become the biggest obstacle to their steady progress. With the enlargement of the scope of the market economy reform, the government began to attach great importance to the predicament of SMEs, and formulated a series of reform measures, but in the real practice they are not taking into effect. From the year2008, the real economy is affected by the global financial crisis, which gives the SMEs financing an unprecedented challenge. In our country SMEs are faced with completed and interactive problems. At the same time, the external environment has changed a lot which makes it more difficult for the SMEs to get out of financing predicament. Facing with a series of problems, comprehensive analyzing the financing difficulties of SMEs have practical significance. To optimize the financing of SMEs, it’s of great practical single finance to analyze the problems in a comprehensive perspective.The current reform of our country is in the stage of anxiety, fatigue and deep water area, the market economic system and financial system reform is facing unprecedented challenges, get out of the plight of the SMEs in the economic reform, especially the financing problems which directly related to effectiveness of the economic system reform in our country. The blocked financing channel, single financing method, the defects of SMEs itself and challenge from the change of the competitive market make the financing problem more difficultly. Deciphering the financing difficulties of SMEs has a long way to go. Based on the above situations, we need to find a new breakthrough to analysis the root cause, and find the basic countermeasures to solve the problem, so this article made a more profound research.On the basis of normative research, this paper uses the statistical analysis method, internal and external analysis method and the comparative analysis method. Though the study of relevant literature, this paper uses mathematical statistics method to analyze the status and the financing structure of SMEs in our country, in order to find the internal and the external cause of the problem of SMEs. This paper takes SMEs financing problems and countermeasures in our country as the main line and discusses in the following seven parts. The first part summarizes the research background, research significance, the domestic and foreign literature and research ideas and methods, and combs the content and framework in this paper. The second part defines relevant concepts of SMEs financing and summarizes SMEs financing theory based on the theory of financing needs and asymmetric information theory.The third part discusses present situation and the problems. SMEs financing expounds the characteristics and function of the SMEs in our country, introduces the specific financing situation of SMEs in our country, analyze on the financing costs and methods respectively. The fourth part mainly discusses the causes of the SMEs financing problems in China in four aspects including the government, financial institutions, enterprise itself and the society which laid a solid foundation to puts forward corresponding countermeasures. The fifth part introduces specific measures of some developed countries and regions to solve the financing problem of SMEs, analyzes the practice of Europe and the United States system and Japan and South Korea system, the overall measures including government policy, legal protection, specialized management institutions, preferential policies, and special development fund. The sixth part discusses the suggestions for China’s SMEs financing problems, mainly from the following several aspects establishing an open and transparent financial platform, giving full play to the government’s administrative supervision function, making full use of tax credit platform, and improving servicers of financial institutions to SMEs, and enhancing the efficiency of the social services. This article puts forward suggestions from various angles and systemic and uses of innovative tax credit platform. The seventh part is the conclusion of this article. It concludes that the main point of the financing difficulties of SMEs have all sorts of reasons, including the government, financial institutions, society, and reasons within the enterprise itself. Solving the financing problem of SMEs should start from these aspects: eliminate the barrier to healthy, steady and sustainable development of SMEs is of practical significance to their further development.