Research On The Financing Problems Of Technological Enterprises At The Entrepreneurship Stage

In my country,one of the most important carriers for mass entrepreneurship and innovation is technology-based enterprises,especially those in the entrepreneurial stage.Technological enterprises at the entrepreneurial stage can not only promote my country's economic development,improve innovation capabilities and provide more employment opportunities,but also promote the harmony and stability of the entire society.Therefore,it is very important to pay attention to the operation and development of such enterprises.In the development of science and technology enterprises,capital is an important guarantee for its operation and development,and it is one of the key factors affecting the success or failure of enterprises.In the entire global entrepreneurial stage of technology-based companies,financing difficulties have been insurmountable.In the process of development of various enterprises in my country,financing difficulties have always existed.Therefore,it is of great practical significance and value to research and analyze the financing problems of technology-based enterprises at the entrepreneurial stage.This article selects Huawei and JD as research cases.By analyzing the financing strategies of Huawei and JD in the seed stage,start-up period and growth period,it provides references for other science and technology enterprises to choose financing methods at the entrepreneurial stage.Specifically,this article is composed of six parts: The first chapter is an introduction,including the background and significance of this research,and at the same time state the research content,ideas,methods and possible innovations and deficiencies,and the second chapter is related concepts and theories Fundamentals and literature review;Chapter 3 is an analysis of the financing problems of different life cycles of technology-based enterprises during the entrepreneurial stage,including financing needs,optional financing methods,and financing status,dilemmas and causes of each stage;Chapter 4 is the entrepreneurial stage Analysis of the financing methods of each stage of technology-based enterprises,analysis of the characteristics and optional financing methods of each stage;Chapter 5 is a case study,taking China's JD and Huawei as examples,to study their development status in the entrepreneurial stage,Analyze the financial problems faced by the case companies at different stages of development,and at the same time study the financing options they have adopted in the process of facing the problems,and summarize their respective financing strategies.The sixth chapter is the conclusion part,reviewing the research conclusion of the article.Through case analysis,it is found that: First,Huawei is a typical technology-based enterprise with high R&D requirements and large R&D funding requirements.Huawei has carried out internal equity financing throughout the entire entrepreneurial period,on the one hand,it solves the financing problem,and on the other hand,it also has an incentive effect.In terms of financing methods,Huawei makes full use of industry characteristics and combines its own technological assets and other resources for innovative financing.Second,JD.com is a representative of technology-based enterprises in the Internet era.His financing methods show obvious industry characteristics and life cycle characteristics.JD didn't need a lot of R&D investment in the early days,so the seed stage and start-up period were very conservative and operated on its own funds.However,the growth period requires extensive promotion and expansion,and the demand for funds increases exponentially.JD.com has adopted bank credit,commercial credit,bonds,and external equity financing to solve financing problems and achieved certain results.The characteristics of science and technology enterprises in the entrepreneurial stage of seed stage,start-up period and growth period are shown in the following aspects.Higher investment,higher risk,higher income,faster growth,and outstanding financing problems need to be combined with their own Industry characteristics,life cycle stages,development strategy planning to select financing strategies.At the same time,in the financing strategy,there needs to be a corresponding matching equity structure,and equity incentives should be used to promote financing.At the same time,the article also puts forward the following suggestions for the financing of technology-based enterprises in the entrepreneurial stage: formulate financing strategies based on the life cycle and strategy of the enterprise;fully develop the financing plan based on the industry characteristics and the type of enterprise;use the special resources of the enterprise to design financing methods flexibly and innovatively;In financing,issues such as financing costs and financing risks are considered.