Research On YC's Financing Strategy

With the continuous development of economy,the importance of small and medium-sized high-tech enterprises in the national economy has become increasingly prominent.They are the backbone of mass innovation,the important driving force of China's economic growth,and improve China's employment rate.Small and medium-sized high-tech enterprises have the characteristics of high risk,technology accumulation,capital demand stage and talent density,etc.These characteristics also lead to the enterprise in financing problems have certain disadvantages.The problem of difficult and expensive financing has been accompanied by small and medium-sized high-tech enterprises,which seriously restricts the development of high-tech enterprises.Taking YC company as the research object,this paper makes an in-depth analysis of the financing problem,which has certain theoretical and practical significance.YC company is an integrated circuit design enterprise,is the ministry of science and technology identified as a high-tech enterprises.At present,the development stage of YC is a period of rapid growth.With the increasingly fierce competition in the industry,a large amount of financing capital is needed to protect the rapid growth of the company.However,YC is a small and medium-sized private enterprise,and the company's management does not pay enough attention to financing,and does not develop financing strategies in line with the enterprise's own development strategy.The company's liabilities all come from short-term borrowing,and the financing strategy is too aggressive.As a result,the company had financing difficulties.This article adopts the case analysis,comparative analysis and literature research methods,such as the financing structure theory knowledge combined with the actual situation of YC company,analyzes the financing environment,YC company internal financing,external financing and financing structure,found that YC company problems of the current financing strategies,such as the single financing channel and financing structure is unreasonable,the problem of asymmetric information and lack of financing strategy planning,etc.Cause these problems including the enterprise itself cause and external cause,aiming at the problems of YC company,our funding needs for the future of YC company do first,and then puts forward the YC company financing strategy Suggestions for improvement,including adjustment of YC company debt structure,internal equity financing,actively seeking VC/PE method such as investment,the new three board,the guarantee measures are put forward.The improvement of these financing strategies can help YC solve its financing difficulties and provide some reference Suggestions for other small and medium-sized high-tech enterprises.