Research On Debt Financing Risk Of Science And Technology SMEs And Its Countermeasures

In 2014,China entered the development stage of “new economic normal”,adapting and leading the new normal of China's economic development.The key is to rely on scientific and technological innovation to transform development momentum.The entrepreneurial spirit fostered by small and medium-sized enterprises in science and technology has become an inexhaustible source of sustainable development and innovation in the market economy model,representing a new trend in the development of world science and technology and industry.However,at present,China's high-tech SMEs generally have the problem of restricting the development of scientific research ability,resulting in the risk management status of "heavy financing,light repayment" and high debt financing costs and high liabilities.The uncertainty of technology innovation and the uncertainty of market prospect;Insufficient understanding of capital use planning and investment risk;insufficient proficiency in enterprise risk management;Many problems,such as exchange rate risk,interest rate risk,and macro-environmental uncertainty,can easily lead to financing risks for SMEs.Therefore,under the background of the new era of “new normal economy” and “Internet + finance”,we will study the unique risks of debt financing of small and medium-sized enterprises,and establish a set of mature and effective risk identification systems and identification methods.Scientific and effective management control is essential.This paper adopts the research method of “Qualitative Theory Framework Construction + Quantitative Empirical Research”,taking the characteristics of SMEs as a clue,combining the financing cases of “new bicycle”,“China-US trade war” and artificial intelligence,etc.The risk factors,risk characteristics and identification methods of debt financing of this type of technology-based SMEs are elaborated.On this basis,analyze the different risks faced by SMEs in choosing different debt financing methods,and obtain a more suitable two-dimensional conformation evaluation system for SMEs.Identify and accurately assess unique risks and build risk management solutions.The research work in this paper shows that strengthening the financing risk management of small and medium-sized enterprises in science and technology should be strengthened in terms of their own corporate structure,capabilities,and management.On the other hand,it is necessary to strengthen the prevention of major players in financing activities,thereby reducing financing costs.It is adjusted to the lowest level,the risk is reduced to the minimum,the benefit is optimized,and the sustainable development of China's science and technology small and medium-sized enterprises is promoted.Research work in this paper is based on the characteristics of SMEs given by the new era,paying attention to the particularity of risk management in the new situation of SMEs,and forming a set of scientific steps and methods for risk assessment of debt financing,based on the nature of enterprises and financing,and the risk factors for the financing risk identification of SMEs.