Research On Sustainable Growth Of Enterprises From The Perspective Of Finance

With the development of the times,the theory of sustainable growth has been widely accepted by the public.The sustainable growth theory and model from the financial perspective can analyze the growth of the company more effectively,and it is of great significance to guide the company to a healthy growth path.Due to the rapid development of the economy,the increased degree of marketization,and the increasingly fierce competition in the industry,enterprises are facing more and more pressure and impact.How to achieve stable and sustainable growth in a challenging environment is an inevitable problem for every company.Especially for small and micro enterprises,the establishment time is short,the capital is limited,and the competitiveness is weak.It is more worthy of attention to achieve sustainable growth.This paper explores the problems and countermeasures of sustainable growth of small and micro enterprises,in order to provide reference for other enterprises.This paper takes small and micro enterprise S company as the case study object,from the financial perspective,using sustainable growth theory and model to analyze the enterprise and explore how the enterprise can achieve sustainable growth.On the basis of reviewing the relevant literature and connotation of sustainable growth and its measurement model at home and abroad,this paper chooses S company's relevant financial statements data from 2013 to 2017 to make financial analysis of enterprises from the aspects of solvency,operation ability,profitability and development ability.The Higgins model is used for sustainable growth analysis,and the growth deviation is obtained by comparing the sustainable growth rate of the enterprise with the actual growth rate,and the causes of the deviation are further analyzed.The study finds that the large fluctuation of S company's growth deviation and two large negative deviations of growth deviation show that S company's development is not stable,and there is still a big spacebetween its actual growth and the realization of sustainable growth.Tracing back to the reasons,we find the following reasons: poor management of accounts receivable,delayed inventory turnover and unscientific dividend policy.Based on the above analysis,S company can consider the following countermeasures to achieve sustainable growth.First,we should implement comprehensive management of accounts receivable and reduce the operational risk of enterprises.Second,strengthen inventory management and establish a good internal control environment.Third,adjust dividend policy and optimize capital structure.