Research On The Impact Of Government Subsidies On Performance Of Small And Medium-sized High-Tech Enterprises

As an important part of the national economy,small and medium private enterprises are an important force to drive the growth of the national economy and a new force in the future development of the national economy.However,small and medium private enterprises do not have the strong background of state-owned enterprises,nor do they have high-level talents gathered.The most important thing is that they do not have strong funds as support.These have brought bottlenecks to the development of small and medium private enterprises.Meawhile,with the introduction and deepening development of the concept of "mass entrepreneurship and innovation",the opening and popularization of informatization,digitization and intelligence,technological innovation has become a necessary guarantee for the development of the country and society,all of which require the country to vigorously develop science and technology,specially small and medium-sized private enterprises of high technology are encouraged to flourish everywhere.However,technology-based small and medium-sized private enterprises still have no background,no talents,and no funds.These situations will lead to problems such as insufficient innovation,short growth periods,and low performance levels.Therefore,exploring the development difficulties of technology-based small and medium-sized private enterprises,solving the bottleneck of their funds,talents,and relationships,and exploring the key elements that affect corporate performance is the main research of this paper.Through research on private enterprises in Fengtai Science and Technology Park,it is found that fastgrowing enterprises are supported by governments at all levels,that is,government subsidies are an important means and method to solve the capital constraints of small and medium-sized private enterprises.Based on the above background,this paper uses the small and medium private high-tech enterprises that received government subsidies in Fengtai Science and Technology Park from 2018 to 2019 as a sample to study the impact of government subsidies on technology-based small and medium private enterprises,and explores the influence path of "government subsidies——innovation level——Enterprise performance",and analyzes the adjustment effect of party organization and business owner’s education level on government subsidies and enterprise performance.This paper mainly uses questionnaire to collect data,and conducts data analysis through regression analysis.This research found that:(1)Government financial subsidies have a positive incentive effect on the financial performance of small and medium-sized technology-based private enterprises,indicating that in the high-tech industry,the strength of government subsidies can promote the development of small and medium-sized private enterprises.(2)From the perspective of intermediary effect,government subsidies can positively promote the performance of technology-based small and medium-sized private enterprises by improving the level of innovation.Many high-tech small and medium-sized private enterprises will invest in innovation and development after receiving government subsidies,leading healthy development of the enterprise to ensure the performance of the enterprise by improving the level of innovation.(3)From the perspective of the adjustment effect,the educational level of business owners can positively adjust the impact of government financial subsidies on the performance of small and medium-sized technology-based private enterprises.It shows that the higher the educational level of business owners and other senior managers,the more the enterprises will use the government subsidies they receive to invest in strategic activities related to corporate development and performance improvement to ensure performance.However,the non-public party organization has no significant adjustment for the relationship between government subsidies and corporate performance.It shows that the party organization’s participation in private enterprises cannot promote performance by influencing government subsidies.This may be due to the fact that the party organization governance level of technology-based small and medium-sized private enterprises needs to be improved.The effective political relationship has not been established yet,so that enterprises cannot obtain government resources from the way of party organization governance,thus reflecting that the regulatory role of party organization governance is not yet significant.The management suggesion of this paper is as follows:(1)Government level: to increase financial support for small and medium-sized private high-tech enterprises,innovate support models and strengthen supervision and management;(2)Enterprise level: it is necessary to change the concept and show its own advantages,increase the awareness of risk management,strengthen the construction of the party organization,improve the governance level of the party organization,and enhance communication with the government.