The use of funds by small and medium-sized enterprises determines the type and quantity of financing. We know that the total assets of an enterprise consist of current assets and non-current assets. Current assets are divided into two different forms: one is current assets whose quantity fluctuates with the change of production and operation, which is called temporary current assets; The second is the current assets that have maintained a stable level for a long time like fixed assets, that is, the so-called permanent current assets. According to the principle of structural matching, it is appropriate for small and medium-sized enterprises to raise funds for fixed assets and permanent current assets by medium and long-term financing; Funds required for changes in business activities due to seasonal, cyclical and random factors; (,) It is advisable to raise funds mainly by short-term financing. It is particularly important for small and medium-sized enterprises to emphasize the matching relationship of financing in their capital structure. According to the survey, many cases of financing failure of small and medium-sized enterprises are not directly caused by the inability to raise funds, but because the operators do not understand the characteristics of various funds and inappropriately use short-term funds for long-term investment projects.
2 preparation and packaging of financing materials (moderate)
Prepare hardware materials to show enterprise value. Detection and identification of intangible assets of the company, such as products; The formulation of enterprise standards; Applications for patents, trademarks and copyrights; Appraisal of scientific and technological achievements; Selection of scientific and technological progress award and enterprise credit rating; Application for key new products; Valuing reputation and abiding by contracts; Choose export-oriented enterprises; Then ISO9000 quality system certification; Identification of high-tech projects (enterprises) or software enterprises; Well-known experts and consultants are the most convincing hardware materials for enterprises.
3 Demand analysis and evaluation link (to be fair)
The so-called pre-assessment refers to the enterprise's assessment of whether it needs financing. For example, for capital turnover and temporary needs, enterprises need financing; Enterprises need financing in order to purchase equipment, expand scale, introduce new technologies and develop new products; Enterprises need financing in order to invest abroad and merge other enterprises; In order to repay debts and adjust capital structure, enterprises need financing; Wait a minute.
Whether financing is needed or not does not depend entirely on the above reasons.
For example, enterprises often face some temporary capital needs, but the funds needed for these needs do not have to be solved by financing, because enterprises can completely solve these needs by revitalizing their current assets and using their own funds. At this time, enterprises should compare the impact of using their own funds and using foreign capital on enterprises, and if there is a good impact, use it; Otherwise, it won't be necessary.
After deciding to use foreign capital, it is necessary to compare whether the investment income and capital cost and their corresponding risks match on the basis of financing demand. For example, what is the average annual rate of return (or average annual profit rate) of investment projects in the future? What is the cost (or capital cost rate) of funds occupied by financing activities? What risks do enterprises need to bear? This is the most concerned by the decision-making level of enterprise management. Therefore, before financing activities, enterprise financial personnel must make a reliable prediction of future investment income. Only when the investment income is far greater than the cost of capital and can bear the corresponding risks can the financing activities be determined.
5 Financing organization implementation process and management links (to be determined)
In order to ensure the normal production and operation of enterprises or the scheduled investment projects of enterprises, it is necessary to make the financing funds enter the enterprises according to the planned time and amount, otherwise the enterprise financing will lose its due role. If the capital flows into the enterprise in advance, it will increase the financial cost of the enterprise. If the capital flows into the enterprise late or the inflow amount is insufficient, it will seriously affect the production and operation activities or investment plans of the enterprise. Therefore, after the financing decision, the financing plan should be implemented in time to manage the whole process of financing activities. At the same time, because financing activities are restricted by many factors, enterprises can only grasp internal factors, and the changes of external factors, that is, the changes of financing environment in the process of financing, are beyond their control. When making financing decisions, enterprises should not only make necessary predictions, but also monitor the financing process, carry out financing activities in time, or change financing plans in time. For example, bank credit, found that most of the costs and time spent, but the loan prospects are still unclear. At this time, it is necessary to adjust the financing plan in time.
6 Financing progress management should be grasped from three aspects: workload, time and cost. First of all, from the perspective of financing workload, the completion of financing projects needs the completion of various sub-projects, and each sub-project is difficult and easy. For example, when an enterprise applies for bank credit, there are five steps: the enterprise applies for a loan, the bank examines the application, signs a loan contract, the enterprise obtains a loan and returns the loan, and each step involves some specific work. For example, enterprises should assist banks to provide relevant information in a timely manner during the stage when banks examine loan applications. Secondly, from the time point of view, enterprises should formulate the timetable of financing projects so that financing can complete the required workload within the specified time. From the perspective of cost, enterprises should effectively control the expenses incurred in fund-raising activities, and when considering the total cost of fund-raising in fund-raising decision-making, they should list the corresponding expenses budget of fund-raising activities, so that fund-raising can be carried out in strict accordance with the budget.
7 Financing risk prevention and whole process control (keen)
There are risks in every link of the financing process. According to the changes of financial market, exchange rate market and financing environment at home and abroad, enterprises must flexibly master risk avoidance methods, transfer risks in time, control the occurrence and spread of risks as much as possible, and reduce the amount of risk losses.