The Research On Financing Risk Of High-tech Private SMEs

In recent years, with the great governmental support, high-tech private small and medium enterprises have quickly developed. Especially the developmental speed and efficiency have more obvious advantages than other industries. Along with the implementation of the Strategy of Science and Technology, a large number of private high-tech SMEs arose, which played an irreplaceable role in all aspects of our life and economy, not only achieving the rapid development of private economy under the background of technological globalization, but accelerating the pace of new industrialization. However, high return brings high risk, so private high-tech SMEs need a higher requirement in innovation and risk prevention Cautious investors and banks will pay more attention to invest in these enterprises, which leads to external financing difficulties for these enterprises and limits the scale of development. As a result, it is difficult to develop bigger and stronger enterprises. Therefore, this paper does a survey on how to deal with enterprises’financing difficulty to highlight their competitive advantages and catch up with the advanced foreign high-tech enterprises.First of all, this paper analyzes high-tech private SMEs financing risk in financing channels, the financing structures and financing scales. Second is to identify the financing risk of high-tech private SMEs from debt financing and equity financing, supported by an analysis on BY Company’s financing risk, which uses the assessment mentioned above in this paper. Finally, according to BY company’s present situation, financing risk coping strategies are proposed first, with the guidance of which specific measures in five parts as the company management level, The company’s collection policy, the level of the company’s management, the capital structure and others are addressed.Through analyzing, this paper conclude that BY company’s debt structure is unreasonable, which includes the lack of financing channel diversification, the main business efficiency and cost control. Thus, the paper suggests that BY company must take measures in risk aversion, risk transfer and risk control. Moreover, it should determine a reasonable collection policy, improve its management, optimize its capital structure, broaden its financing channels and increase its technological innovation capability. This article contains13tables and40references...