A Study On High-tech Enterprises Financing Difficulties And Strategies

In the era of science and technology is the first productive forces,high-tech enterprises are recognized by the world as the driving force of economic development,is the main driving force of technological innovation and progress.However,both in developed and developing countries,during the process of technology research and development and industrialization of products,high-tech enterprises got financing difficulties.Compared with foreign countries,China's high-tech enterprises financing problem is particularly prominent.On the one hand,it is because of the high risk of high-tech enterprises,embodied in the intangible assets accounted for relatively large,technology research and development of the risk of uncertainty,the early development of small scale,business risk,information asymmetry resulting in huge safety and profit as the standard of prudent investors choose external high-tech enterprises the investment projects,these characteristics also make it difficult to directly enter the securities market financing,and financing difficulties by bank loans favored.On the other hand,the imperfection of the capital market in our country leads to the limited financing channels of high-tech enterprises,the financing mode in the initial stage of development cannot be diversified,and the financing structure is unreasonable.Therefore,the analysis of financing of high-tech enterprises in China,financing options to explore the different development period,boost the healthy development of high-tech enterprises,so as to speed up the transformation of China's science and technology,enhance the vitality of economic development,has important practical significance.This paper focus on China's high-tech enterprises financing difficulties,first,analyze the concept and characteristics of high-tech enterprises,through reviewing the financing theory,analyze the four stages of the high-tech enterprise financing characteristics and strategies of using life cycle method,the financing difficulties of financing case in Chongqing S science and technology of China's high-tech enterprises of dialysis in the process of enterprise development,and summarized reflection.Finally,from the objective point of view,the author puts forward some suggestions to improve the financing environment and the financing efficiency of the high-tech enterprises in three aspects: the enterprise itself,the financial institutions and the capital market.