Analysis Of Impact Of The Internet Finance To The Small And Micro Enterprises In China

Small and micro enterprises as an important part of our national economy have made great contributions in stimulating economic growth, adjusting the economic structure, easing employment pressure, increasing revenue. However, due to the inherent characteristics of small and micro enterprises, such as small-scale, their financial information’s imperfect, less effective mortgage assets and other reasons make financing issue has become a major obstacle to the development of small and micro enterprises. With the rapid development of the Internet today, Internet banking as a new form of financial brings traditional finance a new concept, has injected new vitality, also brought competition, gave birth to the cooperation, but also brought challenges for the existing financial regulatory system. The Internet as a new force in finance, Internet banking through cloud computing, large data processing tools, mining hidden customer demand, conveniently involve small and micro enterprises and public financial services demand which commercial banks are reluctant to involve. Internet finance develops rapidly in financial field with low cost, high efficiency, wide and rapid development advantages. And it is expected to effectively alleviate the problem of financing small and micro enterprises.In this paper, under the rapid development of Internet banking and the summaries of the previous studies’ result based on analyzes financial impact of the Internet, started the Internet banking impact small and micro enterprise financing problem from three aspects. The first part analyses the financing situation of small and micro enterprises. Firstly, define the concept of small and micro enterprises. Small and micro enterprises occupy an increasingly important position in the process of China’s economic development, but due to the small and micro businesses and the industries in their size and other characteristics, the financing issues have become a bottleneck which restricts their development. Secondly, analyses small and micro enterprises’ financing model and present situation. By this section’s analysis, determine the financing ways which most small and micro enterprises will choose. The financing ways are internal financing, commercial bank financing, private lending and Internet financing. Finally analysis the financing structure’s influence factors by single sample T-Test and multiple regression method. By single sample t-test we find enterprise’s scale and property have influence in financing. A larger scale enterprise will have a higher financing efficiency and state-owned enterprise have a higher financing efficiency than private and foreign enterprise. By multiple regression analysis, find that enterprises with higher debt service ability will more easily achieve loan financing and if a business have a higher income will be more inclined to internal financing.The second part made a detailed presentation and analysis for Internet financial. Firstly, define the concept of Internet finance. Secondly, analyses the Internet financial models and their characteristics. Mainly introduce 6 mature models, which are P2P lending, big data finance, information finance, third-party payment, Internet financial portal, and crowd financing. Finally, make a SWOT analysis for internet financing from business cost, efficiency of resource allocation, service, credit system, risk control and so on. And illustrate internet finance’s strength, weaknesses, opportunities and threats. Internet finance only raise to exert their advantages will not eliminate by the times and serve the society better.The third part is the analysis of the impact of internet banking on the small and micro enterprises’ financing. Firstly, analyses the financing situation of small and micro enterprise and find that there are four main reasons make small business failed to apply for the loan which are formalities’ trouble, high cost, lack of mortgage and guarantee. Secondly, take P2P lending as an example to analyze the internet financial how to impact small and micro enterprise financing. P2P funds mainly go to small business; P2P lending increased the financing efficiency of the small and micro enterprises; the number of P2P network platform has positively related with the number of small and micro enterprises in different area. Finally, based on the analytic hierarchy process and fuzzy matrix evaluation method, evaluate small and micro enterprise financing model and get conclusion, found that small and micro enterprises’ financing efficiency is highest when through internet financial.Internet banking as a new form of finance has a lot of strengths and advantages which traditional financial does not exist on the small and micro enterprise financing problems but there are also many shortcomings. In addition, small and micro enterprise itself on its financing problem has a big part of responsibility. Therefor finally, the paper gives relevant policies and suggestions to alleviate the small and micro enterprise financing problem respectively form internet banking and small business.The novelty of the paper is the new subject and research method for small and micro enterprise financing problem, on the basis of qualitative and form the perspective of quantitative to illustrate the internet finance how to improve the small and micro enterprises’ financing efficiency. The shortcoming of the paper is that the enterprises’ loan data are hard to obtain, so there are limited empirical analysis method to choose for a further research for this problem.