Research On The Symbiotic Relationship Between Private Capital And SMEs

During the 30-year reform and opening up, the small and medium-sized enterprises in China have developed rapidly. These enterprises play a significant role in creating vitality for market and driving the rapid growth of China’s economy. It is undeniable that the small and medium-sized enterprises do not gain “ equal treatment” from banks and other standard financial institutions in the aspect of financing, which highlights the problem of financing difficulty. For a long time, private capital as an alternative way of financing provides an outlet for private capital, which also obtains a room for the development in the communications of capital, substance and information. Therefore, there is a symbiotic relationship between private capital and small and medium-sized enterprises. Both their running modes and symbiotic environment will determine allocative efficiency of private flow directly or indirectly, which may affect the development of private economy in China. However, in recent years, the private lending crisis broke out in succession in places like Wenzhou and Erdos. This indicates that the symbiotic relationship between private capital and small and medium-sized enterprises is not stable. The profit-oriented private capital cannot guarantee a long-term development of these enterprises. At present, in the context of vigorously advocating of guiding private capital to motivate the vitality of small and medium-sized enterprises, studying on the current situation of the symbiotic relationship between private capital and small and medium-sized enterprises and discussing the internal mechanism and existing problems of this relationship have important practical significance to promote its sound development and the continuous prosperity of national economy.This thesis discusses the relevant problems of the symbiotic relationship between private capital and small and medium-sized enterprises from the angle of Symbiosis Theory. In chapter 1, it states the background, purpose and significance of the study of the symbiotic relationship between private capital and small and medium-sized enterprises; reviews the previous researches results; presents research contents, research method and research design. In chapter 2, on the basis of clearly defining the concepts of “private capital” and “small and medium-sized enterprises”, it analyzes the financing situation of private capital investment and small- and medium-sized enterprises. Meanwhile, it explains the basic theory and the fundamental of symbiosis. In chapter 3, it analyzes the situation of the symbiotic relationship between private capital and small and medium-sized enterprises from the aspects of symbiotic unit, symbiosis model and symbiosis environment. Also it deeply analyzes the internal mechanism of the symbiotic relationship and finds the existing problems. In chapter 4, it verifies this symbiotic relationship in the angle of demonstration. Upon the indices of quality-parameter compatibility, using the method of θ value and combining relevant statistical data, it does a regression analysis of the production value of private capital investment and small and medium-sized enterprises. The result of regression analysis indicates that there is symbiotic relationship between them. Through the calculation of the degree of symbiosis, it explores that there is an asymmetric reciprocal symbiotic relationship between private capital and small and medium-sized enterprises at present and it also indicates there is a room for the improvement of the symbiosis model. Bases on all the above, in chapter 5, it presents the measure of “trinity” to improve the symbiotic relationship between private capital and small and medium-sized enterprises from the angles of symbiotic unit, symbiosis model and symbiosis environment. This provides some ideas of developing the symbiotic relationship soundly, steadily and enduringly. Finally, in chapter 6, the writer summarizes all the contents in the thesis and put forward research prospect.