Research On Financing Of Small And Medium-sized Cultural Creative Enterprises In Hangzhou

Financing problem has always been one of the main problems that perplex the development of small and medium-sized enterprises in China(SMEs).Compared with the general SMEs,Small and medium-sized literary and creative enterprises(SMLCEs)have their own special reasons,such as smaller scale,lower proportion of tangible assets,greater fluctuation of corporate value,difficult evaluation of intangible assets,lower credit rating,non-standard management,higher market risk and difficult to predict product returns.So the problem of SMLCEs' financing is more prominent than that of general SMEs.At the same time,since the 21 th century,the literary industry has become a new industry in the world,playing an increasingly important role in the world economy.In the "Twelfth Five-Year Plan" of China,it is clearly proposed that "cultural industry should be promoted to become the pillar industry of the national economy".At present,China's cultural industry is developing rapidly,but compared with developed countries or regions abroad,China's cultural industry is still in its infancy.The whole cultural industry shows the characteristics of "small number of large enterprises,mostly small and medium-sized enterprises".Therefore,in order to better and faster achieve the "Twelfth Five-Year Plan" goal,it is urgent to solve the financing difficulties of small and medium-sized literary and creative enterprises.In order to effectively alleviate the financing difficulties of SMLCEs,this paper takes SMLCEs in Hangzhou as the main research object.Firstly,through the research and analysis of the existing research results at home and abroad,we find the limitations and shortcomings of the existing research results,thus clarifying the necessity and breakthrough of this study;secondly,on the basis of defining the theoryof SMLCEs,we comb the current situation of financing difficulties of SMLCEs in Hangzhou in detail,and analyze its problems;thirdly,by using the method of fuzzy comprehensive evaluation and data envelopment analysis,the financing modes that enterprises often choose in practice are evaluated comprehensively,and the efficiency of each financing mode is compared quantitatively,and the optimal financing mode is obtained,which is verified by the actual case of SMLCEs in Hangzhou;lastly,from the perspectives of SMLCEs themselves and commercial banks,this paper puts forward some suggestions to improve the financing situation of SMLCEs.The possible innovations of this paper are as follows: firstly,through a large number of data and enterprise visits,the author conducts research on SMLCEs in Hangzhou from the micro-level,thus improving the quality of the research.The recognition of SMLCEs will be beneficial to the development of enterprises themselves,as well as to the identification of SMLCEs by commercial banks and the increase of financing for enterprises with prospects for development.The second is to introduce the fuzzy comprehensive evaluation method and data envelopment analysis method to quantitatively analyze various financing modes.