A Study On The Support Of Finance And Taxation Policy For SMEs Financing In Hunan Province

As an important part in national economy in Hunan province, SMEs play an irreplaceable role in promoting economic growth, increasing employment opportunity, developing scientific and technological innovation and achieving social stability. So it has strategic significance to rapidly develop SMEs. However,"market failure" in credit market has seriously restricted the development of SMEs in Hunan province. SMEs financing urgently needs government support.Based on the theories of domestic and foreign SMEs financing and policy support, this study describes the current situation of SMEs financing and support of finance and taxation in Hunan province, combing the survey results. This study finds the current finance and taxation policy in Hunan province doesn’t have enough support for SMEs needs so that they are lack of internal financing and external financing. Then after analyzing the successful experience of finance and taxation policy supporting SMEs needs in America, Japan, Germany and Korea, combing with the specific condition in Hunan province, this study gives recommends to optimize the finance and taxation policies supporting SMEs needs in Hunan province:(1) expand the expenditure scale of fiscal funds;(2) reduce the burden of taxes to enhance internal financing ability of SMEs;(3) improve the finance and taxation policy support for expanding financing channels of SMEs;(4) increase the publicity of finance and taxation policies supporting SMEs financing needs.