The Study On Financing Strategy Of The Small And Medium-sized Enterprises In China

The small and medium-sized enterprises of our country have a non-fungible position in the development of social economy. It is the basic strength of promoting the development of national economy, constructing the market and promoting the social stability. At present, small and medium-sized enterprises are playing an important role in guaranteeing the increases of national economy, alleviating the pressure on employment and rejuvenating China by applying scientific and technological advances and encouraging non-governmental investment etc.. Small and medium-sized enterprises and spirit and sense of risk of entrepreneurship have become the marrows of modern civilization and market economy, as the foundation of innovation and development of the market economic system. In a sense, without small and medium-sized enterprises, there is no market economy.But in the faulty legal environment, small and medium-sized enterprises have the maladjustment to the transition of one's own property right role and type of operation. Every commercial bank pursues large-scale enterprises, fighting for the loan for the big enterprise, but ignoring the fund demand of small and medium-sized enterprises. Meanwhile, rigid credit system and laggard business innovation make the development relation contorted gradually between commercial bank, financial institution and small and medium-sized enterprises lacking sincere. In addition, capital market of our country is not perfect and the threshold of stock market is too difficult to get in. It makes small and medium-sized enterprises whose business scale is small, operation time is short small and market prospects is unstable hang back. And the bond market doesn't develop very well relatively, so it brings a series of problems for bond financing. The above reasons make the financing environments of small and medium-sized enterprises worse, the financing channel not unobstructed, and make it face the problem of lack of fund generally. The difficulty of financing becomes the important reason of restricting the development of small and medium-sized enterprises. So, it is very tense to solve the fund of small and medium-sized enterprises, improve the financing environments and expand the financing channel of small and medium-sized enterprises, and promote small and medium-sized enterprises to develop healthily and fast. It is the most important problem demanding prompt solution at present.This text has introduced relevant standard of define about small and medium-sized enterprises, its important status in our country's social economic life both at home and abroad at first. It has also introduced the relevant concept of financing and financing channel commonly used, pointing out the necessity of carrying on the study of financing of small and medium-sized enterprises; Secondly, It has introduced two more international popular financing theories, such as " credit ration theory " and " relation grant theory", the theories have offered the theoretical foundation for financing in small and medium-sized enterprises; Analyzing the prerequisite of influencing factor for the environment of financing of small and medium-sized enterprises of our country, It has carried on description carefully to the current situation of financing of small and medium-sized enterprises, and it has made deep and objective theoretical analyses of the difficulty to financing and has pointed out several main reasons that cause bottleneck of the fund of small and medium-sized enterprises; Finally, on the basis of carrying on fuzzy comprehensive appraisal to the financing efficiency of small and medium-sized enterprises, according to the difference of ownership, the text has put forward the feasible financing tactics to the state-run, private and Hi-Tech small and medium-sized enterprises.