About the research of problem of financing of medium and small businesses.doc

about the research of problem of financing of medium and small businesses paper key word mode of financing of problem of financing of company medium and small businesses solves measurepaper summary financing of medium and small businesses is difficult it is a cosmopolitan problem. with respect to our country character, the main power that medium and small businesses expands as our country economy gets the attention of academic group and decision-making layer and support, below the concussion of global banking crisis, since 2008, production of our country medium and small businesses is managed appeared greater difficulty, financing of medium and small businesses difficult, loan it is difficult, difficult to assure the problem appears unusually outstanding, quite the dilemma that partial medium and small businesses faces capital catenary to rupture, a lot of medium and small businesses close down close stop, cause unemployment rate to rise, to the society stability brings great pressure. in the country of departmental door support energetically below, why is the bank still borrowed to cherish of medium and small businesses? does problem of financing of medium and small businesses still hang buy? solve the problem with difficult financing of medium and small businesses, need what to change make on the mechanism? does medium and small businesses solve the problem outlet with difficult financing where to? from 20 centuries our country medium and small businesses got rapid development after 90 time. end at present the whole nation already had many 4200 medium and small businesses, 99% what occupy our country to be in enterprise, it is a such giant groups the question with be faced with financing difficult since the day that be born however. especially since the international banking crisis from 2008, the capital chain that our country medium and small businesses faces ruptures pressure is more severe, how increase pair of medium and small businesses give aid to and serve, with people in the same condition help each other of medium and small businesses, spend time limit in all, walk out of predicament jointly, it is various government, academic group, bank group, business circles pay close attention to generally and the problem that is badly in need of solving. one. medium and small businesses is mixed in the position in national economy action< one > medium and small businesses is mixed in the position in economy of each country of medium and small businesses action1. of medium and small businesses differentiate standarda lot of countries on the world established standard of his medium and small businesses, what each country develops state and development standard because of economy is different and standard also each are not identical, but also have a few common laws namely of medium and small businesses limitting is the service of policy of medium and small businesses that is a government: ask medium and small businesses is the economic substance of an independent management business accounting on one hand; be in an enterprise on the other hand overall in, medium and small businesses always holds a relatively stable share. 2. the position of medium and small businesses and actionmedium and small businesses is in activity of economy of each country various places, having all in all place, to economy development is producing main effect, making sure national economy lasts to health develops and safeguard a society to stabilize a respect to producing bigger and bigger effect. medium and small businesses is the principal part with market active economy, because production lot of medium and small businesses is small, acute to market reaction, can satisfy increasingly diversity, market demand of individuation, it is active market indispensable great main power, medium and small businesses is the main impetus that economy grows, should look from the amount, medium and small businesses has absolutely advantage. in addition, medium and small businesses is the main carrier that increases obtain employment, it is the medium and small businesses of fresh troops; that promotes technical innovation investment is little, capital has an orgnaization to become low, it is the important channel that new obtain employment mixes unemployed personnel to increase labour force obtain employment newly, at the same time medium and small businesses relies on spirit of its agile moving mechanism, adventure and the acumen to the market to hold, created a lot of commerce myth. < 2 > our country medium and small businesses is mixed in the position in economy of our country countryman actionour country medium and small businesses is in ensure our country economy grows, alleviate obtain employment pressure, optimize the respect such as economic structure to having irreplaceable effect. will tell from governmental level, quantity bedding face is wide, occupy countrywide company number to even more the main body that the medium and small businesses of 99% is obtain employment of our country society and national economy, it is to resist financial crisis percussive is important pillar, improve no time to delay of environment of financing of medium and small businesses. according to calculating, be in our country, medium and small businesses inducted obtain employment of 75% town population of the left and right sides and rural move labour force, exceed 60% to the contributive rate of gdp, exceed 50% to the contributive rate of taxation, the patent that there is 65% in innovation link, product development of 80% comes from medium and small businesses. “15 “ during, our country economy year all grow 9.5% , and medium and small businesses of dimensions above industry raises a cost year all grow 28% , the growth rate of outclass gdp. medium and small businesses is right induct obtain employment personnel, the folk that start invests, optimize economic structure, accelerate productivity development, ensure national economy stabilizes growth continuously, hold to and perfect socialism basic economy system is having primary level main effect. especially current information age, production is flexible change degree to increase ceaselessly, need individuation is increasingly apparent, standardization production means is mixed to individuation stage by stage flexible change producer type to transform, medium and small businesses can get used to the development demand of market economy more. (3) the development characteristic of our country medium and small businessesour country medium and small businesses is household company for the most part, familial make colour grumous, equity relation is complex, in controlling authority complete works, droit and right of administration are not detached, parent type manages mode to hold dominant position, the correlation between large stockholder is spent very big, have number to measure big, sort much, district the characteristic with wide, all ready industry. will look from region composition, the eastpart part of our country medium and small businesses is occupied 65% , mid occupy 22% , occupy western 13% ; in the meantime, labor of our country medium and small businesses is spent thick and fast tall, assume differentiation position with big company, at present the capital of our country big small and medium sized business has what the orgnaization becomes to compare for 1. 83: 1. 23: 1 capital obtain employment leads than for 0. 48: 0. 66: 1. because most medium and small businesses is to rely on individual capital investment to finish what initiative capital accumulates, equity investor is confined to close friends and as close as relation of proprietor of an enterprise person, but fall in condition of capital technology intensive, enterprise interior capital satisfies the need of expanded reproduction hard. 2. the feature of structure of financing of medium and small businesses< one > industry financing structurediffer according to financing source, industry financing can distinguish the source outside be financing and inside source financing; according to capital attribute, can divide for bond financing and capital of rights and interests; grow according to holding time paragraph, can divide for long-term financing and short-term financing; according to financing object property, can divide reach aeriform capital financing for financing of capital of financing of monetary sth used to ones own advantage, objective. < 2 > industry financing means and statebecause most medium and small businesses is to rely on individual capital investment to finish what initiative capital accumulates, equity investor is confined to the person with close friends and close relationship of proprietor of an enterprise, but fall in condition of capital technology intensive, enterprise interior capital satisfies the need of expanded reproduction hard. generally speaking, financing means can divide the enterprise to wait for financing of bond financing, stock financing, business standing. bond financing is the tool that the enterprise plans market fund, adopt creditors rights move, can resolve the capital situation of enterprise oneself, quicken capital have enough to meet need, improve management, raise the gain of own reserves to lead; bond financing is the company raises the important way of big batch capital, business standing financing is an enterprise between with credit is provided each other when shop merchandise between the individual, appropriate connects place to use at the short-term fund be in harmony of sex of have enough to meet need, cannot regard investment sex as long-term pattern. < 3 > feature of structure of financing of medium and small businesses1. financing difficulty is great(1) channel is narrow, financing of the source inside medium and small businesses has larger proportion in its capital structure. direct financing is the company raises the important way of big batch capital, and threshold of traditional capital market is exorbitant, industry financing is put in bigger obstacle. issue a share, appear on the market financing is industry financing have an outlet, but, current, domestic medium and small businesses does poineering work board appear on the market condition and moving regulation and advocate board the market is felt almost same, not only the equity of large stockholder cannot current, and appear on the market doorsill and advocate board the market has distinction hardly. although outside source financing has the proportion that comparative when enterprise newly established, but because financing of the source outside its much is not,with enterprise nature asset and credence undertake, and personal property of main support proprietor of an enterprise undertakes assuring, outside the much on property source financing all is belonged to inside source financing limitation. (2) the bank is borrowed to cherish of medium and small businesses, rate of venture of financing of medium and small businesses is high. one-time place needs medium and small businesses capital measure little, scope is little, and medium and small businesses is sensitive to reaction of market supply demand relations, fast production of vicissitude of the market is managed produce place to be not secured, personnel fluidity is great, technical level lags behind to be not stabilized via battalion outstanding achievement, resist risk ability is poor, news lack, credit rank is low. (3) . bank credit cost is high. after our country commercial bank undertakes system is reformed, strict to requirement of loan attributive examine and verify, low level management person loan attributive is insufficient, cannot answer a client neatly disparate arrangement of ideas gets need, special to loan of medium and small businesses business is lacked, the examination to loan cost is higher, and the examination that is aimed at business of credit of medium and small businesses system is diseased. 2. . financing cost is highas a result of large and medium-sized business loan batch is big, oneself has system of perfect accountant finance affairs, credit grade is opposite taller, and money of system of lack of medium and small businesses is met information, answer market risk ability weaker. generally speaking, closely related the financial activity of activity of financing of medium and small businesses and individual of proprietor of an enterprise and financial standing, medium and small businesses is possessory commonly with controller syncretic, the asset that the enterprise can mortgage because of oneself lack and manage the finance affairs that reachs credit record to want proprietor of an enterprise of have the aid of on certain level assures and financial condition is recorded and medium and small businesses lacks enough fixed assets guaranty and the group that assure just about. at present each portfolio inadequacy that big bank borrows money in the light of medium and small businesses cannot satisfy our country the demand of this one giant group, in addition, medium and small businesses can be entered only commonly be not open equity and debt market, and big company can enter open market financing. open equity debt bear because open market is registered relevantly,sell announcement and issue wait for expenditure a lot of fixed costs. because this existence delivers economy of guild regulations standard, and model of hair guild regulations and company assets dimensions have very strong positive to involve a concern, emission dimensions economy is the difficulty that medium and small businesses cannot overcome. 3. the risk is highscale of production of medium and small businesses is minor, the product is updated fast, rate of capital flow change is rapid, the capital that needs stability will assure the normal movement of the enterprise. capital of oneself of medium and small businesses is insufficient, need is mixed through wu of ceaseless countervail repay a debt lift borrow new debt to ensure company capital is current, thereby company debt load is aggravating, rate of debt interest risk is high. generally speaking, medium and small businesses is produced - sale - reproduction process cycle is short, capital circumfluence rate is rapid, but the characteristic of oneself of oneself of medium and small businesses decided medium and small businesses is stronger to dependence of capital steam again, fight risk ability weaker, lack answers the lash-up ability that capital flows. once encounter a product to sell not free, capital has not enough to meet the need, the enterprise is in productivity is abate, have the risk that close down even. 3. the characteristic of financing of medium and small businesses(one) the characteristic of financing of medium and small businesses1. rate of credit of medium and small businesses is inferior, obtain enough loan from orgnaization of finance of commerciality bank etc directly hard. opposite at big company, market information ability goes after medium and small businesses weaker, appear possibly carelessly a bit the mistake is decision-making, the technology of most medium and small businesses develops devoted existence to be not worth apparently, very difficult development gives new product and new technology, innovation ability is restricted badly because of capital plan moulding about. to the control of the market ability loses, force is feeble, do not have the capacity that competes with large company obverse side, become the victim of unfair competition on the market easily, the acceptance that is market passivity person. 2. guaranty difficult; generally speaking, capital of medium and small businesses is not quite adequate and discount rate is higher. loan evaluates the branch that register to disperse, formalities is multifarious, collect fees exalted; asset evaluates intermediary the service is non-standard, optional to the assessment of pawn sex is very big, cannot make the assessment of correct and reasonable justice to the asset of medium and small businesses, the financial orgnaization such as the bank is avoid risk and discretion borrows money. 3. it is difficult to assure: lack of current our country assures to what medium and small businesses borrows money orgnaization, industry financing cannot find security, at the same time the bank decreases assure specific gravity, to medium and small businesses loan has restriction, accredit of basic level bank is finite, the program is complex, loan is bad, assure it is difficult that the system is fulfilled. (2) the characteristic of financing of our country medium and small businesses1. differ into main body according to capital be in harmony. company structure means basically has onefold owner to make, partnership makes finite liability company etc. current, the industry economy structure of our country is main by in a variety of system of ownership such as small state-owned company, urban and rural cooperative, individual private enterprise are formed, property right impact is not clear. 2. give main body to differ according to capital be in harmony. the financing source of our country enterprise is main by governmental government spending and bank credit two kinds of means. 3. financing market is different. economic system of market of current our country is not quite sound, rate of market system growth is not high, note market growth is backward. 4. financing environment is different. show level, our country is building economy of socialistic legal system, legal system is progressively and sound, credit economy condition matures gradually, industry financing was on orbit of normalization of cost of convenient, financing stage by stage. 4. the expression of difficulty of financing of our country medium and small businesses(1) our country belongs to silver-colored