Research On The Impact Of Entrepreneurship On The Performance Of SMEs

As the driving force of enterprise development,entrepreneurship has attracted more and more attention in the academic circle,and the cultivation of entrepreneurship in the new era has been attached great importance.The CPC central committee has published the connotation of entrepreneurship in the new era,and proposed in the report of the 19 th national congress to stimulate and protect entrepreneurship.As the largest and most dynamic part of the modern social economy,smes,which account for 99.8% of the total number of enterprises of all sizes,are often too busy making profits to pay attention to entrepreneurship and are relatively deficient in it.However,many smes are not aware of it.Therefore,it has become a common problem for small and medium-sized enterprises how to cultivate entrepreneurship and what kind of entrepreneurship can improve the performance of small and medium-sized enterprises.This paper selects the influence of entrepreneurship on the performance of small and medium-sized enterprises as the research topic,and finds out the ways to cultivate entrepreneurship that can make small and medium-sized enterprises improve their performance.In order to achieve the above goals,in the empirical research part,496 enterprises listed on the small and medium-sized board of the shenzhen stock exchange in China were selected as samples,and five indicators from the three dimensions of entrepreneurship,namely,innovation spirit,risk bearing spirit and focus spirit,were constructed using relevant data from 2016 to 2018 as explanatory variables.The principal component analysis method is used to construct the performance evaluation system of small and medium-sized enterprises,which includes financial performance,market performance and stable performance.The correlation between entrepreneurship and the performance of small and medium-sized enterprises is analyzed.Then,taking the size difference and age difference of small and medium-sized enterprises into consideration,as control variables,the influence of entrepreneurship on financial performance,market performance and stable performance of small and medium-sized enterprises was verified by the multiple linear regression model.It is found that the capital expenditure index,which measures the long-term risk-taking spirit of entrepreneurs,has a significant positive effect on the financial performance of smes.The investment intensity of R&D personnel which reflects the entrepreneurial innovation spirit has a significant negative influence on the market performance of small and medium-sized enterprises.For the stable performance of small and medium-sized enterprises,the intensity of r&d investment representing entrepreneurship innovation is positively correlated with it,and the index of short-term risk taking is negatively correlated with it.Enterprise scale also has certain influence on the performance of small and medium-sized enterprises.Finally,based on the results of empirical analysis,this paper comes up with a method of cultivating entrepreneurship that can improve the performance of small and medium-sized enterprises,so as to achieve the goal of cultivating entrepreneurship of small and medium-sized enterprises and realizing their long-term development.