Study On The Financing Of Small&Medium-sized Enterprise Of The Industry Cluster In Xinjiang

Small and medium-sized enterprises in economic prosperity,optimize the industrial structure,to meet the social needs of multi-level,to promote employment,play an important role in increasing revenue and other aspects,has become an important force in promoting the development of socialist market economy.The development of the enterprise cannot do without capital accumulation.The order of corporate financing structure is composed of internal financing,debt financing and equity financing.However,due to the reasons of the enterprise itself and the government policy,small and medium enterprises unilateral bank credit is often faced with difficulties,financing difficulties have become a bottleneck restricting the development of SMEs around".The industrial cluster is an advanced production organization form in China,Guangdong,development of industrial clusters in Zhejiang and other developed areas of success also indicates that the small and medium-sized enterprise cluster development to promote the economic development of the entire region.For example,Zhejiang Wenzhou small enterprises in the footwear industry group,Yiwu small commodity enterprise group,Changshu garment enterprise group etc.these enterprises have formed spontaneously,also has the government plans to support the formation.The advantage of cluster effect in these areas are constantly emerging,showing great economic vitality,and effectively alleviate the financing difficulties of small and medium-sized enterprises clusters are many,gradually become the pillar region economy.The experience of developed areas provides a good demonstration of the development of economic strategy based on industrial clusters for the backward areas of the economy.Therefore,by referring to the developed coastal areas of industrial cluster development of China's advanced experience,and actively guide the development of industrial clusters in Xinjiang,to explore a new way of financing for Xinjiang local small and medium enterprises,has become a new strategic choice for the development of Xinjiang's economy.Firstly,this paper reviews the domestic and foreign theories of industrial cluster and the financing theory of small and medium-sized enterprises,Secondly,it introduces the financing advantages of small and medium-sized enterprises in the industrial clusters,and the industrial clusters to improve the corporate financing,Then,based on industrial cluster development in Xinjiang and Xinjiang SME financing situation,analysis of the existing small and medium-sized enterprises in Xinjiang industrial cluster financing,finally do the empiricalanalysis on the relationship between the size of the financing of small and medium-sized enterprises of industrial cluster and cluster,the empirical results show that the industry cluster of small and medium-sized enterprises in obtaining external financing have significant advantages;capital is relatively strong enterprises in the industrial cluster more access to external financing,and increase the number of enterprises in the industrial cluster will reduce the single enterprise clusters obtained by the size of external financing.Finally,based on the reference of foreign advanced experience,summed up the development of SME cluster financing,To alleviate the financing difficulties of small and medium-sized enterprises,and combined with the actual situation of Xinjiang's economic development,the paper puts forward some suggestions to improve the financing problems of SMEs in Xinjiang.