Research On Solving Financing Dilemma Of Small And Medium-sized Enterprise Through Supply Chain Finance

Small and medium-sized enterprises(smes),as the backbone of the rise of China's socialist market economy,have always been shouldering the important task of promoting the rapid,stable and efficient development of the economy.However,the financing difficulty and the financing expensive are always blocking the sustainable and healthy development of China's small and medium-sized enterprises.How to effectively use supply chain finance to remove the obstacles to the development of small and medium-sized enterprises has become a question worth pondering under the new normal economy.Article successively in "in this paper,the supply chain finance related literature and theory research foundation,analysis of supply chain finance development course,development scale and the detection of sm all and medium-sized enterprise financing present situation facing the financing dilemma,analyzes the realization of supply chain finance financing puzzledom in cracking mechanism,by means of empirical analysis,inspection and measurement of supply chain finance in the financing difficulties of small and medium-sized enterprises aspect of practical effect"as the research train of thought,explore and verify the financial supply chain in deciphering the financing difficulties of small and medium-sized enterprises to produce.The results show that China's smes are facing a severe financing environment,that is,there is a strong cash-cash flow sensitivity;Supply chain finance can effectively break the small and medium-sized enterprise financing difficulties,namely the financial supply chain can effectively reduce the small and medium-sized enterprises exist-cash flow sensitivity of cash,embodied in the supply chain finance by raising the lending both sides information transparency,enhance the level of small and medium-sized enterprise credit,lower transaction costs,additional categories of financial instruments,and expand the channels of funding sources,etc.,so as to greatly reduce the small and medium-sized enterprise financing,and then break shackles of rapid and healthy growth of small and medium-sized enterprises financing difficulties.Furthermore,the paper finds that the inter-city financial level has a different impact on the performance of supply chain finance.A city with a high financial level is more conducive to the performance of supply chain finance,while a city with a low financial level has an insignificant effect.At last,this paper puts forward corresponding countermeasures and Suggestions from three aspects:establishing a mature supply chain financial risk control system,optimizing the development environment of supply chain finance,and strengthening the main structure of supply chain finance,so as to promote the healthy and stable development of supply chain finance in China and better solve the financing problems of small and medium-sized enterprises.