Research On The Financial Strategy Of Small And Medium-sized Technology-based Enterprises

Small and medium-sized technology-based enterprises have played a very important role in the rapid development of China’s economy over the past three decades,especially in people’s well-being,employment and technological innovation.However,the financing of many small and medium-sized enterprises has become a major obstacle to their development.Based on studying the significance of solving the financing problems of the small and medium-sized technology-based enterprises,this paper systematically sorts out the relevant theories at home and abroad.And in combination with the case of X Company in Nanjing,the paper conducts an empirical research on the impact of the financing situation on the development of small and medium-sized technology-based enterprises.The paper sums up the differences in financing between small and medium technology-based enterprises and large corporations by making quantitative comparison of their financial situations.Finally,based on summarizing the mature experience of the developed countries such as the United States,Germany,Japan and the United Kingdom and by using representative cases,this paper puts forward some financing strategies for small and medium-sized technology-based enterprises in such areas as striving for financial support from the government and related supporting services,making full use of the financing channels of traditional commercial banks,seeking to finance from multi-level capital markets,leveraging the Internet finance and other new financial channels,and strengthening cooperation with the credit guarantee institutions.The main innovative point of the paper lies in the use of the steady least squares method to conduct empirical research on the impact of the financing situation on the development of small and medium-sized enterprises and makes quantitative and comparative study of the differences in financing between small and medium-sized enterprises and large corporations.This method is different from the qualitative research method frequently used in the past in that it takes into account the characteristics of small and medium-sized technology-based enterprises.The paper has a good practical significance and application value in that it elaborates on all the hotspot financing channels such as venture capital,angel fund and science and technology insurance while putting forward financing strategies for small and medium-sized technology-based enterprises.