Research On High-Tech Small And Medium-Sized Enterprises Financing And Financing Path With Internet Finance

As the backbone of promoting technology innovation and enhancing core competitiveness, since reform and opening up, high-tech SMEs(small and mediumsized enterprises) has made rapid development and outstanding contributions to the transformation of scientific achievements and improvement of economic structure.The biggest obstacle to growth of medium and small hi-tech enterprise is lack of funds, because this type of enterprises "favor technology over assets", which makes them unable to get enough funds from traditional financing channels, and has deeply affected the healthy development of them.In recent years, with the constant progress of information technology and integration with traditional financial, a completely new Internet financial mode is created, it has characteristics such as covenant-lite, strong inclusive, easy to operate,high transaction efficiency, low financing cost, etc, which is a natural mutual-ness for the financing needs of medium and small hi-tech enterprise, and widen the financing channels of high-tech SMEs.There are a lot of articles on financing of high-tech SMEs, however, on basis of a new perspective, firstly, this paper analyzed the financing status and noticed that financing difficulties are commonly found in high-tech SMEs, and the existing financing channels can't well satisfy their financing needs. Secondly, with the development of the Internet finance, especially the rise of P2 P mode and crowdfunding has brought a new opportunity to solve the financing difficulties of high-tech SMEs. Thirdly, this paper picked two successful cases of financing through Internet, combining with the practical application of financing mode such as Rewardbased crowdfunding and Equity-based crowdfunding in high-tech SMEs, which discovered that financing mode of Internet really solved the problems such as asymmetric information, narrow financing channel and high financing cost, etc with high-tech SMEs. Finally, according to the financing problems such as defects of legislation, absence of supervision and lack of risk control, etc to put forward relevant suggestions, further optimizing the financing mode of Internet financial of our country's high-tech SMEs.