Research On The Financing Mode Of Internet Financial Service For Small And Micro Enterprises

Small and micro enterprises play an important role in China's economy.However,small and micro enterprises have their own weak economic characteristics,lack of effective collateral,and imperfect social credit system and financial service system,small and micro enterprises are facing serious financing difficulties.The shortage of financial resources and services has always been a stumbling block to the development of small and micro enterprises and a bottleneck restricting their further growth.The rapid development of Internet financial institutions,to a large extent,has solved the difficulties of financing and high financing costs for small and micro enterprises,and also can effectively ease the problems of both the Information asymmetry.Therefore,an in-depth exploration of the financing mode of China's Internet financial service small and micro enterprises can not only analyze the advantages of Internet financial institutions over traditional financial institutions in solving the financing difficulties of small and micro enterprises,it can also summarize the existing risks by analyzing the problems in the development of Internet financial institutions.This research has strong practical significance.This paper takes Ant Financial as an example to study the financing model of Internet financial service small and micro enterprises.The contents are mainly divided into six parts.First,the literature review at home and abroad is sorted out,the existing research results are summarized,and the possible research innovations in this paper are put forward.This paper analyzes the relationship between Internet financial institutions and financing of small and micro enterprises from the long tail theory and information asymmetry theory,which lays a theoretical foundation for this paper.Then it explains the typical financing model of Internet financial service small and micro enterprises,and compares and analyzes the financing model of Internet financial service small and micro enterprises with traditional financial service small and micro enterprises;on this basis,taking Ant Financial as an example,according towhether the Ant Financial can absorb public deposits as a cut-off point,this paper studies and compares the financing models of the Ant Financial before and after serving small and micro enterprises,detailed analysis of the Ant Financial's specific path and effectiveness,and the Ant Financial's financing for small and micro enterprises to carry out SWOT analysis;again,this paper analyzes the financing risks of Ant Financial from four aspects: fund operation,management operation,credit default and business model transformation.This paper draws the following conclusions:(1)Internet financial institutions have the characteristics of low cost and quick loan,which can provide more and faster financing channels for small and micro enterprises to meet the diversified financing needs of small and micro enterprises;(2)Ant Financial can provide quick and easy financing for small and micro enterprises through powerful big data and cloud computing technologies,but they are not as risk-controlled and socially acceptable as traditional financial institutions;(3)there are many risks in the process of Ant Financial service for small and micro enterprises:operation risk,default risk,capital operation risk and transformation risk.In the end,this paper puts forward the following suggestions from the perspective of the Ant Financial itself and the government:(1)broadening the sources of funds to reduce the operational risks;(2)strengthening its own risk control to prevent operational risks;and(3)creating a good environment Reduce the risk of default;(4)innovate the regulatory model to mitigate the risk of transition.