Research About Financing Of SME Clusters Based On Social Capital

SME clusters take more and more prominent status and role of economic and social development in our country, and has become the important force to the promotion of rapid economic growth. However, SME clusters basically are faced with financial problems. The survey on enterprise clusters of Zhejiang, Guangdong and other places shows that the funding sources of SME, the relatives, friends borrowing and self-accumulation has played an irreplaceable role, accounting for about 50%-60% of funding sources; the non-formal financial institutions such as private lending funds accounted for the total scale of 30%; but the finacial from banks and other formal financial institutions only takes a very small proportion. The investigate shows that SME clusters even though use the non-formal finance to a certain extent alleviated the problem of its financing difficulties, but the role of non-formal finance on the basis of informal social network supporting SME cluster of financial is limited and there are still more than 95% of SME lack of funds. The development of SME clusterS need for innovative of financing models.This study combined with existing research results at home and abroad.IT argues that we must concern the characteristics of SME's nature of the living environment and the cluster effect to solve the financing problems of SME clusters. In this paper, we take social capital theory as the basic theoretical research, embedded into from a social economics perspective, take the usage of the game method of social capital formation and accumulation of reputation mechanisms, analyse the effect of financing of internal social capital to SME clusters, and exploring new financing models based on social capital of SME clusters. At the same time through the survey and empirical analysis of 200 enterprise of Hunan Province Miluo clusters, we use the SPSS statistical software and measurement regression model to measure the social capital of SME clusters on the basis of the factor analysis and regression analysis. And then we do empirical analysis on the correlation of social capital and the financing of enterprises.The results show that social capital is indeed able to promote SME financing and alleviate the difficulties in financing of SME clusters. Specifically the following conclusions:(1) The social capital of SME clusters is mainly effected by the impact of four factors such as the basic situation of individuals, corporate credit, the corporate existence of the number of years, as well as the level of cooperation between SME clusters. Among them, the basic situation of the individual entrepreneurs takes the largest load factor.(2) The clustering of SME's financing environmental and social capital show positive correlation at the other variables remain unchanged.(3) Among the four impact factors of social capital of SME clusters, the basic situation of entrepreneurs which takes the biggest load factor has little impact on the financing environmental. It argues that the situation of enterprises takes greater importance to the basic situation of enterprises in bank credit and private financing.