中小企業(yè)融資內部的障礙和對策研究

1、Research on financing internal barriers and countermeasures of SMEZhang Xuemu, Li ChunhuiKey words SME, Financing, Financing ability of SME1. IntroductionSmall and medium-sized enterprise plays an important role in the national economic development, which promotes the economic boom, increases employ

2、ment, actives market and maintains social stability. But substantive investigates indicated that, the fund insufficient already became the most important factor which restricts the development of our small and medium-sized enterprise. The financing difficulties of SME partially due to the exterior f

3、inancing environment, for instance, lacks of integrated policy system and small and medium-sized commercial banks which support the development of SME, lacks of essential guarantee organization and essential financing tool, narrow direct financing channel and so on. Simultaneously, the internal envi

4、ronmental factor also creates the financing barrier, for example, the low business management level, opacity in managing information, credit flaw and so on. This article chooses the financing internal barrier factor of SME to take steps the analysis, proposed some countermeasures to solve the questi

5、on.2 Analysis on financing internal barrier of Small and medium-sized enterprise2.1 Small and medium-sized enterprise manage extensively, government structure is nonstandardMost of the Small and medium-sized enterprises in our country are born in villages, towns and small cities, namely "the ru

6、ral enterprise" or "the family firm", this kind of congenital historical background lead to the low management level and personal quality for majority of SME administrative. Concrete manifestations are the low ability in enterprise R&D, extensive internal management, optional deci

7、sion-making and lack of long-term developmental strategy. Moreover, the SME generally lacks of integrated corporation govern structure and clear property right, which result in financing difficulty.2.2 Low credit ranks and bad credit environmentThe history evolves, bad survival environment as well a

8、s the management idea, causes small and medium-sized enterprise universal to be in a low credit rank, which is one of main reasons to SME financing difficulty. Although not all Small and medium-sized enterprise have a low credit problem, because lacks of reliable capital credit appraisal organizatio

9、n and credit record, it is very difficult to tell the good credit enterprise from the bad one, which causes bank, creditor as well as exterior investor and so on would not invest the loan or invests to Small and medium-sized enterprise.2.3 Information asymmetryPresently, the modern enterprise system

10、 is not yet completely established in Small and medium-sized enterprise, there still existence vast information opacity and distorted question. According517to the bank, many Small and medium-sized enterprises with poor financial control and half-baked report and account book, lacks of enough financi

11、al reports which are approved by exterior finance auditing department, provides inaccurate financial information, even false report. This financial system construction and management nonstandard lead to "the reversion" information asymmetry, seriously twisted the bank credit decision-makin

12、g behavior, finally hindered the financing opportunity of SME. 2.4 Exorbitant management risks and limited property quantityThe domestic and foreign research indicated that, the longevity of SME is universal short. An investigation indicated that, 70%-80% SME in China only exist 3 to 5 years, 10%-20

13、% last 5 to 10 years, approximately 5%can persist 15 years. Thus, the bank loan inevitably is in high risk. Moreover, because of scale small, short development history, small-scale property, these also increase the difficulty for the bank loans.3 Measures on how to reduce interior barrier and how to

14、 promote financing ability of SME3.1 Consummations enterprises financial management system, enhances the enterprise finance data the confidence level and the transparencyThe financial information reliability and the transparency are the inspection credit standards for banks, therefore Small and medi

15、um-sized enterprises need to formulate a set of standard systems. Firstly, improve interior financial management system, guarantee the reliability of financial report data; Secondly, strengthen financial personnel troop, hire or raise specialized financial personnel; Finally, also may ask for the ba

16、nk agent finance, obtain the full communication, enterprises can be easy to obtain loans. Moreover, SME also needs positively to accept the surveillance form government auditing departments, enhances the transparency of the enterprise information.3.2 Promote the entrepreneurs ability to raise and ma

17、ke good use of fundSmall and medium-sized enterprises mainly depend on their own accumulation in the newly established time, while developing they benefit from the folk fund, in order to become more powerful they must make use of market financing. Therefore, young entrepreneurs must have open vision

18、 and qualities adapt to market economy, standardize business management system, create the opportunity for market financing.How to excavate the enterprise fund potential and seek fund support? Mainly measures are as follows: At first, carries out the stock cooperation system, the system arrangement

19、which the introduction stockholder's rights altogether holds. The fund pressure of SME often due to serious long-term fund insufficiency and financing duty press on the minority person concerns. Under the above system, everybody is financing channel, everyone become the "the fund pressure r

20、elief valve". Secondly, activate the fund storage quantity. On the one hand small and medium-sized enterprises should reduce their receivables and the account age; On the other hand they must get the best stock quantity, trying for more currency. Thirdly, decrease various of costs, such as fals

21、e decision-making, invalid project, wasters and so on, which may both reduce the production cost thus slow down the fund demands, and may increase the profit thus increases the fund supplies, finally perfect the enterprise fund support system. 3.3 Strengthen credit concept, enhances credit rankThe c

22、redit question is the universal question puzzles majority of our enterprises. The credit deficiency may own to the lack of social credit penalty mechanism. Honest person suffer a loss, dishonest person take advantage, result in a social credit crisis. Does a low credit social environment make enormo

23、us negative influence to the economical development, the commercial credit loses causes many social resources have to be consumed in how to make both sides of transaction to believe firmly they could obtain the very condition as scheduled. The credit rank is the key for small and medium-sized enterp

24、rise to obtain indirect fund, they must strengthen their credit viewpoint, enhance their credit rank as far as possible. First, enterprises must honestly keep words, standard management; Second, they must strengthen the communication with big enterprises, under the aid of big enterprises credit or t

25、he establishment independent credit appraisal center for its guarantee, obtain the bank loan; Third, strengthen the relation with financial organs, notifies the enterprise operating condition unceasingly, let the banks grasp the enterprises fund flowing, achieve the trust of financial organs; Fourth

26、, standardize518enterprises system according to bank credit rank evaluate standard, strive for good credit rank evaluation; Fifth, promptly clear up debts chain, optimized finance condition.3.4 Exert government financing bridge role, reduce the bank and enterprise's transaction costThe ownership

27、 system and scale factor of SME truly caused the bank loan resisted tendency. But we may forecast that along with the bank commercialized management and pursue profit power the bank would give up this prejudice gradually. Another important reason why hinders the bank to loan to Small and medium-size

28、d enterprise is their small quantity of loan, from the little middle service, the bank could not earn much profit. Because the internal management cost for the bank to examine and approve a loan basically not change along with the loan amount, provides the jot loan result in the higher cost. This co

29、st element throughout will become the restriction to Small and medium-sized enterprise to obtain the bank loan.But this restriction may be solved by providing the non- profit serve through the government financing bridge, the concrete procedure is as follow: Government undertakes partially responsib

30、le work which originally did by the bank, thus reduces the bank business cost. For example, Small and medium-sized enterprise often lacks of experiences in the application loan aspect, which documents needs to provide to the bank as well as each kind of document specific request isn't clear. The

31、 government may establish "the loan consultation center of SME" to help the enterprise. Manufactures a set of standard loan applications to stipulate and carry on the request to the content form. Before the loan application, the enterprise first appeal to the consultation center relation,

32、obtains the pertinent data, after the preparation finished, then hands to the consultation center carries on the form verification, after the verification, then sends the bank. In addition, various banks when choice loan customer possibly has different favoritism, like the profession favoritism, the

33、 consultation center may use the information which it grasps to recommend the appropriate loan bank for the enterprise.3.5 Cultivate specializations production colony, promote the enterprise mutually guarantee, expedite the financing channelThe specialized colony effect approximately in two aspects,

34、 one is the local multi-vocation colony of SME; the other is the identical industry specialization colony. The former mutually guarantee platform may be built by the local authority, which accelerate the bank credit operation and enterprise financing. The latter may be obvious in the good vocation b

35、enefit situation.3.6 Thoroughly research on national industrial policyThe national industrial policy is a guide which the enterprise develops, and also the criterion which the bank credit provides. Commonly, small steel and iron, automobile fitting and cement enterprise, the banks manner are clear t

36、hat they wont give the loan support, while animal husbandry, cultivation industry and agricultural and subsidiary products processing industry are easy to have the support, because they can improve the development of the countryside and agriculture. Therefore, Small and medium-sized enterprises must

37、 study the national industrial policy, prevent the blind motion.3.7 Implement "goes out" strategy making use of foreign capitalSmall and medium-sized enterprises do not lack of high technical and innovative products, some of them have entered the country “ torch plan " and " spar

38、k plan " and so on. If these enterprises go out and make fully use of foreign capital, they may both promote their international competition strength and can collect enough fund to develop themselves.4 conclusionsThe fund deficiency is the biggest bottleneck which puzzles the development of SME, most of small and medium-sized enterprises face with financing difficulty. Financing difficulty due to some outside facto