A Study On The Factors Affecting The Credit Financing Of Small And Medium-sized Technological Enterprises

Technological innovation is the core of China's strategy of "13th Five-Year" period.The national and local governments have paid great attention to support the development of scientific and technological enterprises.As a leading city of scientific and technological strength in southern Jiangsu,Suzhou has enacted a series of policies and measures to support small and medium-sized technological enterprises in recent years.However,due to internal and external environmental reasons,start-up and growth enterprises are still facing serious financing bottlenecks.To solve the problems of credit restriction of small and medium-sized technological enterprises,we should study the key factors that affect the level of credit financing.First of all,this paper expounds the current situation of credit financing of technological SMEs in China,and points out the common problems,and then analyzes the current situation and shortcomings of credit financing of Suzhou technology-based SMEs.In the empirical area,this paper selects the new three board enterprises in Suzhou and which are listed in the technological SME list of Suzhou as samples to analysis the influencing factors of credit financing by multiple linear regression.The result show that the scale of operation and innovation ability are positively related to the level of credit financing,and the relationship between banks and enterprises,the ability to resist risks and the ability to operate assets are negatively related to the level of credit financing.In addition,this paper uses Taiwan's experience in supporting the financing of technology-based SMEs to draw relevant inspiration.Finally,combined with the empirical result,the author proposes several policies and recommendations to solve the problem of credit financing of small and medium-sized technological enterprises from the enterprise itself,the government and financial institutions.