Research On The Crowdftunding Financing Strategy Of Innovative Small And Medium-sized Enterprises In Financing Dilemma

As a new financing medium,the public financing has a great significance to solve the innovative small and medium-sized enterprises.This article focuses on two levels to study the public to raise financing for innovative SMEs role.One is analysis on innovative financing situation and the plight of elaborate.On the one hand is through the characteristics of focus from financing,financing,financing the status quo to explain the status quo innovative SMEs.Among them,the financing of innovative SMEs mainly for the following four points: Innovative SME loans,difficult of commercial bank credit,internal financing and external financing being limited to poor,high cost of financing problems.Financing innovative SMEs is characterized by "short,small,frequent,urgent" and financing mainly from commercial banks.On the other hand focus from economic,information asymmetry two angles to analyze credit Innovative financing difficulties.From a credit perspective,the lack of innovative SMEs dishonesty credit and lower costs led to innovative SME financing reasons.From the perspective of information asymmetry between innovative SMEs and Commercial Bank adverse selection and moral hazard,which is the reason commercial banks are not inclined to lend to innovative SMEs.The second is the analysis of the public research based on further analysis of its effect on innovative SMEs,and to make recommendations.First,the size of the herd to raise financing,features and advantages of the angle is illustrated the public financing during the development status in our country.Then focus on the public for financing of innovative SMEs effect from SW,transaction cost theory and practical feasibility.From a theoretical perspective of SM proved small-scale and risk diversification could not been matched with commercial banks.That is why crowdfunding can solve the financing Difficulties.Besides,crowdfunding can promote the innovation of SMEs.This is mainly due to the public for financing which has a large advantage in the information search and determine costs,negotiation costs and supervision costs.Then,From the perspective of empirical analysis,this article proved that due diligence and communication and so on had a positive influence on financial success.In addition,the author further analyzes the risks that may exist for financing the public while promoting the growth of innovative SMEs.Finally,this article established and improved the relevant legislation from the perfect manner and strengthen public financing during construction and other aspects of SME credit to build a regulatory system to protect the public for financing in promoting innovative financing of security and normative.The innovation of this study is on the one hand to introduce the concept of public financing about the study of the role of innovative financing.The other is from the theoretical analysis and practical feasibility analysis to prove both the role of public financing for financing of innovative SMEs with the example of M company.