Research On Financing Constraints Of Small And Micro Enterprises

Financing is the first step of financial management,it has become a hot research topic in the field of economy at home and abroad.Since the 1960 s,with the rise of best capital structure theory,trade-off theory and pecking order theory of financing,these theories has provided a new perspective for the research of capital structure.In the process of social and economic development,small micro enterprises(SMES)are playing an increasingly important role.Although small micro enterprises have a small scale,the quantity is numerous.They play a significant role in promoting economic reforms,technical innovations of our country and creating a large number of employment opportunities.At this stage,the financing problem of small and micro enterprises ought to be a worldwide problem.Small and micro enterprises must solve the financing difficulties if they want to become bigger and stronger.This thesis uses fuzzy comprehensive evaluation method to solve the financing problem of small and micro enterprises.first of all,this thesis reviews the research literature of financing constraints of small and micro enterprises at home and abroad.Secondly,the thesis introduces relatively popular financing theory models in several decades abroad.Thirdly,the thesis makes a scientific evaluation for the main constraints of small and micro enterprises by using the fuzzy comprehensive evaluation method,and get the importance ranking of these constraints.Finally,the thesis chooses the four most main factors and analyzes the financing difficulties of small and micro enterprises more deeply and puts forwards some targeted countermeasures and suggestions.The results show that the financing constraints of small micro enterprises have different importance.Among them,the ranking of the top four are respectively:difficulties in bank loan,insufficient support from the government,the own problems and the narrow financing channels.At the end,in order to solve the financing problem,to get rid of the financing difficulties,to break the development bottleneck and to realize the sustainable development of small and micro enterprises,the thesisrespectively puts forward relevant countermeasures and suggestions aiming at the four factors.