Small and medium-sized enterprise financing the main sticking point, and the countermeasures of thinking

Paper keywords: small and medium-sized enterprise financing; Problem; countermeasures

Abstract: small and medium-sized enterprise is after the reform and opening the occurrence of new enterprise groups, to the national economic and social development to make positive contribution. But, the financing difficult problem of middle and small enterprises have been restricted the development, especially since the outbreak of the global financial crisis, the financing problems is small and medium-sized enterprise survival and development of a bottleneck. At the same time, this problem is also affected by the state and the society from all walks of life interest. This paper mainly on current financing the problems, and puts forward some corresponding Suggestions.

The financial crisis under the perspective, China implemented the moderate easy monetary policy, financial institutions loan greatly increased, but most of the loans to the "iron and base", and small and medium-sized enterprise financing and the voice of the loan be higher and higher. According to reports, at the end of April, 2009, a large number of small and medium-sized enterprise go bankrupt. This paper mainly on current financing the problems, and puts forward some corresponding Suggestions.

A, the importance of small and medium-sized enterprises development

Small and medium-sized enterprise is the main force of urban economy, satisfy domestic demand Lord security, the main channel of employment, increasing the income of farmers Lord plate, structure adjustment of the carrier, the innovation of science and technology initiative. The stable and sustainable development of national economy stability, the perfection of the market economic system, the state of the economy overall competitiveness and even the social stability and all have a extensive and far-reaching significance.

According to China's government has set the standard of the small and medium-sized enterprises, the statistics show that, in early 2009, small and medium-sized enterprises in China in 10 million, accounting for more than 90% of the total number of enterprise, employees 174 million people. Look from the contribution of the small and medium-sized enterprises created the final products and services of value already accounts for 50% of GDP above, solves employment accounts for the 75% of total employment town, provide products, technology and service exports accounted for about 60% of total exports, and small and medium-sized enterprise has done all income tax accounting for the tax of 40% or more. With the reformation in economic system, and small and medium-sized enterprise economic weight will continue to rise. Small and medium-sized enterprises at present already account for more than 50% of the national output, but get less than 20% of the total loan loans.

Second, the financing difficulties of small and medium-sized enterprises at present reason analysis

Small and medium-sized enterprise is in rapid accumulation of capital, scale expansion stage, its the demand to capital huge, so small and medium enterprise development in the process of how to solve the financing is inevitable problems. Undeniable, its financing there are some serious problems.

(a) small and medium-sized enterprise business scale is not large, performance is not stable, great risk

Especially small and medium-sized enterprise because assets, weak economic foundations, resistance less external shocks ability is weak, and the lack of their own brand and stability of the main business, to small businesses and big business has a higher compared to the collapse of the rate and the suspension of the rate. According to statistics, at present, China's small and medium-sized enterprise the average life expectancy of 3.5 years with a short, easy to bring greater risk to investors.

(2) guarantee, mortgage difficult, severely restricts the release of the loan

From mortgages to most small businesses because the value of the mortgaged property, assets less low, it is difficult to meet the loan bank requirements; Even if have reached the requirements of the bank mortgage, because the need to assess the mortgaged property, notarization, insurance, registration, seal keeping link, often because handle mortgage links, the procedure complex, time is long, higher costs, difficult to satisfy the business enterprise of the temporary need. From the guaranty look, commercial Banks to guarantee enterprise should have for strict rules, such as AA level must be above a certain financial strength of enterprises, and small businesses because of its economic strength, reimbursement guarantee low grade weak reason, to find a bank guarantee unit by the very difficult. And with the increase of the market consciousness, even if a few small enterprise find have the guarantee to the enterprise is also often because these enterprise risks, need to refuse to undertake the responsibility and the applicant, so that small businesses to continue the guarantee of the chain.

(3) financial management and internal management structure is not perfect, integrity is generally poor

There are few small and medium-sized enterprises credit rating, many enterprise property rights are not clear and the structure of company treatment not perfect, the individual enterprise financial management is not standard, the data is not true, data is not complete, information distortion in a single generation, accounts, such as ZhangWaiZhang problems, and the smoke escape capital, default receivable phenomenon, the impact of the overall credit image. In some small and medium-sized enterprise, a few people or individuals control common, most of the existing legal person assets and natural person assets without strict distinction between, when the enterprise happening managing difficulty, smoke escape enterprise asset often happened and it is difficult to control, loans can not guarantee carry out.

(4) business organization form of diversity and internalization of information, information asymmetry problem outstanding

Small and medium-sized enterprise organization form varied, some small and medium-sized enterprise financial reporting system is backward, information transparency, lack of auditing department confirmed the financial statements and good business performance, increase the bank to enterprise financial information review difficulty, the bank management face the risk is bigger. At present, most small businesses in small scale, scattered distribution, formation of short time, enterprise management organization various in form, make the commercial Banks to the structure of organization, legal person quality, performance is difficult to accurately mastering information, without doubt, made the financial institutions average cost and marginal cost is higher, increase the bank, the difficulty of the regulatory review, also make the bank to the release of the loan to be fairly well, Banks are reluctant to pay so higher cost, and the enterprise also unable to withstand high financing cost.

(5) international and domestic economic situation changes, and further increase the small and medium enterprise competitive pressure

At present, the economy three carriages-investment, consumption and domestic demand still has certain operation imbalance. This year economic growth in countries all over the world, the subprime crisis and the continued appreciation in the yuan is some relief in the trade surplus is too large, inhibit excessive growth of investment and to promote economic growth from relies mainly on investment and exports to consumption, investment and export on coordinate transform form, but also have to admit, relative shortage of domestic demand, the export of most small and medium-sized enterprise shrinking produced deadly threat.

Three, to solve the small and medium-sized enterprises of the loan be some policy recommendations

(a) is to solve the small and medium-sized enterprise movables pledge loan guarantee difficult good way

Long-term since, the business of bank loan to assure means is relatively single, mainly with real estate mortgage and ensure that give priority to, so "guarantee" difficult is undoubtedly one of the core financing problems, and also be restricted banking and business assets of a big obstacle. Aetna assets supervision company in to understand, because of the lease on partial enterprise of land, building the production and business operation activities, and financing for the mortgage of the workshop is land; Part of the enterprise the original land, buildings (shops), equipment has to do his set mortgages, because there is no fixed assets for mortgage and cannot obtain more bank loan support; The mortgage of the set machinery and equipment, especially special equipment, hard cash, once dispose of the hard enough, and to realize the value; Loan each other between the customer provide the guarantee security, form in fact bank loans give yourself guarantee, once appear risk guarantee the unit without recourse in accordance with the joint guarantee responsibility, hard to avoid can lead to loan between enterprises chain risk many problems, such as, personal property pledge loan business arises at the historic moment. Chattel pledge loan business, just as its name implies, it is the pledgor lawfully acquired ownership movables as pledge, get DaiKuanHang yuan short-term loans, and the introduction of a professional management company as a third party supervision the pledge, the pledge deposited in the bank, management of the company and the pledgor are without objection supervised warehouse, a credit funds returned and the pledge of outbound synchronous implementation. With the production and operation of enterprises, large, high liquidity of the main raw materials (such as oil, coal, and other mineral products, metal products, wood products, cereals, oils and foodstuffs level general chemical raw materials, etc), and other movables set the pledged collateral, with easy maintenance, easy to keep, easily realizable, easy treatment and other distinguishing feature, it is a kind of excellent credit assure means, also must be loan guarantee new trend.

(2) the local government should vigorously promote small and medium-sized enterprise credit system construction, and build a good financial environment

Government should promote a new round of economic development height, further deepening to small and medium-sized enterprise development important significance of understanding with scientific development concept further leading, ensure and promote the healthy development of small and medium-sized enterprises; From the point of view of strictly in accordance with the law to further intensify the "there" to implement the efforts to form a cohesive force for the development of small and medium-sized enterprises to provide a good external environment, trying to ease the small and medium enterprise production and management of the problem, advance the overall transformation and upgrading of middle and small enterprises. Especially in entrepreneurship support, innovation to promote and market development, financial support, personnel training, for small and medium-sized enterprise, provides the omni-directional service guidance and support. Improve, improve the small and medium enterprise credit, small and medium-sized enterprises to promote the overall quality and comprehensive competitiveness against credit risk, improve their own financing ability, promoting the healthy development of small and medium-sized enterprises have the important meaning. To gradually establish and perfect the small and medium enterprise credit reporting system and credit evaluation system, to the bank provide institutions such as enterprise credit information; Credit for the small and medium-sized enterprises, establish credit typical, vigorously promote and credit management advanced mode and experience.

The local government will actively organize to establish and perfect the small and medium-sized enterprise financing guarantee system, and provide security for the financing of small and medium enterprises. To encourage and support small and medium enterprise established guarantee agencies, give full play to its function, searching for the right market the breakthrough point, to effectively develop business. To establish guarantee agencies' capital complementary mechanism, absorbing the social capital into, encourage large enterprise, big companies and equity, guarantee company strength, improve the security company supporting the medium-sized and small enterprises to ability. To improve the current guarantee agencies to operation, according to the stock market, regulating the operation principle, adhere to the management of the nonprofit and service. Through to establish and perfect the small and medium enterprise financing guarantee system, and promoting small and medium-sized enterprise credit system construction, to improve the ability of small and medium-sized enterprise financing.

(3) people's bank to small and medium-sized enterprises should relax restrictions on the size of the loan limit, strengthen financial institutions' capacity to lend

Should relax restrictions on the local commercial Banks, rural credit cooperatives, and other financial institutions to control the size of a special line special used to support small and medium enterprise development, positive for small and medium-sized enterprise to provide comprehensive, many forms of financial services.