The Financing Difficulties Of Small And Medium-sized Enterprises And Empirical Study

From the enterprise innovation and enterprise financing respective, the dissertation analyged the relationship between zhejiang SMEs innovation and its financial strategy, to find the SMEs financial dilemma. Firstly, the paper took the defined SMEs find and briefly introduced for SMEs, of Zhejiang province,summeriged their characteristic, organization, capital structure, operation processing. Then, the paper reviewed the relating literatures of SMEs both in Chinese and English; Finally, the paper emphiged analysis on problems of SMEs(of Zhejiang Province) financing dilemma.The small and medium-sized enterprise in Zhejiang province was a very active force, economy, stable, development and contributed a great to Zhejiang province. Since the reform and opening up, small and medium-sized enterprises in Zhejiang province have got very quickly development, small and medium-sized enterprises accounted for more than99%in total number of enterprises of Zhejiang province, However, the current financing situation of SMEs in Zhejiang is not optimistic, the difficulty in financing is the bottleneck restricting the development of SMEs. It is specifically manifested that the endogenous financing is not smooth, direct financing and indirect financing are in low efficiency etc.Therefore, this paper had done the study on common and successful models in financing, summeriged the financing situation of SMEs in Zhejiang Province. Using the data from the SME listed market in2009-2011in Zhejiang province,117listing Corporaties as sample, the paper analyged constraint factors, financing problems, asymmetric information of SMEs. Financial repression model had done to find factor retalionship.This paper also puts forward policy suggestions to solve the financing difficulties, and promote the healthy development of small and medium-sized enterprises in Zhejiang province. Firstly, small and medium-sized enterprises should be good understanding on the current financing environment, and choose best financing channels,make correct financing decision financial institutions properly to finance themselves, in term of their internal conditions&external environment.