First, the financing difficulties of private enterprises are mainly reflected in: 1, the absence of management and supervision mechanism, resulting in moral hazard. Some private enterprises, after obtaining a large number of high bank loans, or ants moved or crossed the ocean and fled, transferred their funds to other places, even abroad, and then absconded, leaving banks unable to recover debts, causing a "financial earthquake." 2. Asymmetric information transmission will generate data risks. In order to obtain bank financing and beautify statements, some private enterprises provide audit reports containing a lot of false information to banks, which makes it more difficult for banks to identify the authenticity of information. 3, the business behavior is not standardized, forming speculative risks. The business risk of an enterprise mainly comes from the liquidity risk of funds. In particular, most private enterprises are small in scale and weak in risk resistance. The boss of an enterprise is both an investor and an operator. Enterprises are equivalent to bosses in different degrees, and employees are in a passive position of "migrant workers", and their awareness of participating in and discussing state affairs is weak. The management mode and strategy of an enterprise depends entirely on the boss's personal interest preference and ability level. 4, the uncertainty of moral behavior, the formation of legal risks, to the operation and survival of enterprises to bring a fatal blow. II. Analysis of Financing Situation of Private Small and Medium-sized Enterprises In recent years, the State Council has issued a series of policies to support small and medium-sized private enterprises to adjust their product structure and technological transformation, which has alleviated the current financing difficulties of some R small and medium-sized private enterprises to some extent. However, due to various factors, the financing problem of small and medium-sized private enterprises is still subject to various restrictions, and its financing difficulty has not been solved. Mainly manifested in the following aspects: direct financing: the financing channels provided by the capital market for small and medium-sized private enterprises are limited and the threshold is too high. There are still some defects in China's capital market structure, such as the high threshold of the securities market, the imperfect venture capital system, the small scale of private enterprises, the inability to bear the cost of stock issuance, and the difficulty in obtaining the qualification for public offering and listing. Not conducive to the financing of private small and medium-sized enterprises. Although the SME board provides a way for SMEs to raise funds through the capital market, it will not become the most important financing channel for tens of millions of SMEs. As for issuing bonds, the key construction bonds and local corporate bonds issued before the project have fixed interest rates and long term, which are mainly used for capital-intensive large-scale project investment, driven by government-led monopoly. It is difficult for ordinary private enterprises to enter, and it is not suitable as a financing means for small and medium-sized private enterprises. It is difficult for small and medium-sized enterprises to raise funds publicly through the capital market. At present, China's financial market has formed six financing methods: stock, loan, bond, project financing and financial support. However, apart from a small amount of credit funds, the openness of these small and medium-sized private enterprises is very low. It is difficult for private enterprises to obtain funds through debt and equity financing. Due to the high entry threshold and increasingly standardized management in the domestic capital market, it is difficult for small and medium-sized private enterprises to obtain listing qualifications through false "bundling listing" as in the early days of the establishment of the capital market, or even be excluded from the capital market by policies and unable to directly raise funds in the capital market. The establishment and development of the second board market is only a matter of minor storms. Most high-tech small and medium-sized private enterprises are still difficult to raise the capital needed for development. However, the local stock exchange market and venture capital market, which can provide financing services for the majority of small and medium-sized enterprises, have not yet listed on the T agenda. The lack of this small capital market makes small and medium-sized private enterprises lose the main channel of direct financing. Most of the medium and long-term investment of private enterprises is mainly obtained through informal and small-scale fund-raising or equity financing such as private lending market, private equity, mutual insurance of enterprises and debt-to-equity swap. This kind of financing is small in scale, high in cost, high in risk and unstable in investment. What is the current situation of financing risk management in private enterprises? Due to the lack of national macro-control, chaotic market order, high investment risk and no special institutional management, private enterprises are now in a precarious position in the financial market. As the person in charge of private enterprises, they should also operate properly, constantly seek new financing opportunities, promote the steady operation of the company and improve economic development.