This paper first analyzes the importance of small and medium-sized enterprises in the national economy, then analyzes the reasons for the difficulty of external financing for small and medium-sized enterprises, and finally puts forward some suggestions from the two aspects of small and medium-sized enterprises themselves and * * *.

Keywords: SME external financing bank loans and credit

First, the importance of SMEs

Small and medium-sized enterprises have become an important force to support and promote economic growth and ease employment pressure. With the development of small and medium-sized enterprises, their demand for funds is increasing. However, under the influence of the current international financial crisis, the problems of financing difficulties and loan difficulties for small and medium-sized enterprises are more prominent. How to provide better support for small and medium-sized enterprises has aroused great concern from all walks of life.

At present, small and medium-sized enterprises account for more than 99% of the total number of enterprises in China, and the value of the final products and services created is equivalent to about 60% of GDP. At the same time, SMEs provide more than 75% urban jobs. 80% of laid-off workers from state-owned enterprises have been re-employed in small and medium-sized enterprises. Small and medium-sized enterprises and non-public economy have become important channels for some college graduates to obtain employment. In addition, 65% of invention patents, more than 75% of enterprise technological innovation and more than 80% of new product development in China are completed by small and medium-sized enterprises and non-public economy.

However, the bank loan resources enjoyed by SMEs are insufficient 1/5, and these funds are basically short-term, mainly used to solve temporary liquidity, and rarely used for project development and expanded reproduction, so it is difficult for SMEs to obtain long-term and stable financial guarantee. According to statistics, only about 2%-3% of SMEs can get fixed assets loans for more than two years.

Second, the reasons for external financing difficulties

1. Self-management is risky and credit concept is weak. Small and medium-sized enterprises have small scale of operation, less self-owned capital, more liabilities, backward production technology and great risks in operation. With the increasing accountability of bank loan risk management, many grass-roots banks have the psychology of "sparing loans". In order to avoid the risk of corporate default in the future, credit officers strictly control loans to small and medium-sized enterprises to reduce the hidden dangers of bad debts. Coupled with the weak credit concept of small and medium-sized enterprises. Many small and medium-sized enterprises have poor repayment consciousness, poor personnel and repayment ability, and banks are more willing to lend to large enterprises with good credit, so such small enterprises are facing great difficulties in financing.

2. Financial opacity and lack of sufficient mortgage assets. Many small and medium-sized enterprises have low financial transparency and are not standardized. In addition, many small and medium-sized enterprises have poor repayment ability and weak repayment consciousness. It is difficult for banks to know the financial situation, business performance, loan fund use and development prospects of these enterprises, and they dare not provide credit support easily. In addition, small and medium-sized enterprises lack sufficient mortgage assets, so it is very difficult to seek guarantees, and most of them do not meet the conditions of bank loans. If mortgage and guarantee cannot be provided, it will be difficult for small and medium-sized private enterprises to meet the loan conditions of financial institutions, and the chances of obtaining loans will be greatly reduced.

3. The impact of the financial crisis. Due to the financial crisis, the market fluctuates greatly, the prices of energy and raw materials rise, and the production costs of enterprises increase; However, the appreciation of RMB reduces the foreign demand and the export volume of enterprises, and intensifies the financing demand of SMEs. In addition, banks themselves are also affected by subprime loans, and the bad debts of real estate mortgage loans have greatly increased. From the perspective of controlling their own risks, the phenomenon of reluctant loans is very serious, and the cost of loans from banks for small and medium-sized enterprises has greatly increased.

Three. Suggestions on external financing of enterprises;

From the perspective of * * * *:

The smooth financing of small and medium-sized enterprises can not be separated from the support and support of * * *, which has played an important role in the construction and improvement of the financing system of small and medium-sized enterprises.

1. Improve relevant laws and regulations. * * * To improve the legal system of small and medium-sized enterprises as soon as possible, and further improve the corresponding policies and regulations. Guided by the Promotion Law, a series of supporting laws, such as the SME Guarantee Law and the SME Financing Law, are formulated to improve the status of SMEs, protect their rights and interests, and make various financing channels for SMEs have laws to follow.

2. Improve the credit guarantee system with * * * as the main body. To establish a risk prevention mechanism, governments at all levels should arrange certain special funds and establish a credit guarantee compensation fund; Improve the credit re-guarantee system of small and medium-sized enterprises, establish a re-guarantee fund to help guarantee institutions spread risks; Encourage capital from different economic sectors to participate in the investment of guarantee companies and form a diversified and multi-level credit guarantee system; Give policy support to qualified SME credit guarantee institutions, especially some relatively small credit guarantee institutions.

3. Establish and improve the financial system serving small and medium-sized enterprises as soon as possible, and change the situation that small and medium-sized enterprises rely solely on bank financing.

On the one hand, actively develop the credit support measures of state-owned banks for small and medium-sized banks, expand the deposit and loan business of small and medium-sized enterprises, and increase loan investment. On the other hand, according to the specific situation of each region, we should establish various small and medium-sized financial institutions, improve the functions of existing banks and build a new financial system. In addition, provide different personalized financing products for small and medium-sized enterprises at different stages of development, increase research and innovation of financial products, and increase credit support and services for small and medium-sized enterprises.

4. Give more financial support to SMEs, such as tax incentives, financial subsidies and preferential loans. For some high-tech enterprises related to the national economy and people's livelihood, the state can allocate more special funds to support them, thus providing a good guarantee for the financing of small and medium-sized enterprises.

From the perspective of small and medium-sized enterprises;

1 Strengthen enterprise credit construction, establish a transparent and true financial system, and reduce information asymmetry. Enterprises should earnestly improve their credit awareness and level, abide by laws and regulations, stress honesty, fulfill their social responsibilities, and establish a good corporate image.

2. Expand financing channels and carry out financing in various ways. It is a supplementary way to solve the financing difficulties of small and medium-sized enterprises by gradually standardizing private financing and broadening the financing channels of small and medium-sized enterprises. In the context of the current financial crisis, expanding diversified financing channels is conducive to enterprises to widely absorb and utilize all kinds of idle funds and obtain good financial support.

3. Standardize internal management and reduce capital occupation. Enterprises should produce according to market changes, reduce raw materials and transportation costs, reduce unnecessary capital expenditures, minimize inventory, implement standardized production, and improve the efficiency of production and capital use; Enterprises should also sell products in time, withdraw funds and improve the capital turnover rate. In addition, they should strengthen the management of accounts receivable, reduce the bad debt rate, thereby reducing risks and improving the operating efficiency and financing capacity of enterprises.

Improve their own competitiveness and independent innovation ability, improve the management level of enterprises and the quality of employees. Only by constantly improving their own operating ability can small and medium-sized enterprises have enough profits to repay loans and obtain bank credit, so as to fundamentally solve the problem of financing difficulties, avoid blind investment and ensure the reasonable implementation of the capital chain.

References:

[1] Fu Feng, Zhang Zaixu. Discussion on financing problems of small and medium-sized enterprises under tight monetary policy. Accounting Newsletter 2009 17

[2] Jin Yingchun, Lu Jiangtao, Zhejiang SMEs financing difficulties and countermeasures. * * * Journal of Party School of Hangzhou Municipal Committee 200903