Research On Financing Constraints Of Small And Medium-Sized Enterprises From The Perspective Of Digital Inclusive Finance

Small and medium-sized enterprises play an important role in my country’s economic development.However,due to information asymmetry and other reasons,small and medium-sized enterprises in my country have always faced the problem of financing difficulties,especially the outbreak of the new crown epidemic in early 2020.This problem is particularly prominent.Therefore,it is very important to study the mitigation effect of SME financing constraints.The proposal of digital financial inclusion has brought new solutions to this.This paper firstly summarizes the concepts of SMEs,digital financial inclusion,financing constraints,and domestic and foreign scholars’ research on digital financial inclusion,SME financing constraints and their relationship through literature research method;The status quo of financing constraints,summarizes the financing constraints of small and medium-sized enterprises,such as low matching degree of financing support and economic contribution,difficult and slow financing,and difficult financing environment.The research hypotheses and the following conclusions are drawn through empirical analysis:(1)The financing constraints of small and medium-sized enterprises in my country have the problems of low matching degree of financing support and economic contribution,difficult and slow financing,and difficult financing environment;Corporate financing has a certain mitigating effect;(3)The mitigating effects of digital inclusive finance on SMEs’ financing constraints are different among different equity properties,regional economies,enterprise scale,and technical attributes.Among them,"non-state-owned enterprises","enterprises in underdeveloped areas","Small Business",and "high-tech enterprises" have more obvious mitigating effects.On the basis of empirical analysis,this paper puts forward some suggestions on the financing constraints of small and medium-sized enterprises.It can provide a certain direction for the financing of small and medium-sized enterprises in my country.