Financing guarantee company; Analysis of profit composition; Elements of sustainable management ability; risk prevention
In people's traditional impression, financing guarantee companies, as financial institutions, are often compared with microfinance companies. They borrow at high interest rates and have strong profitability and sustainable management ability under the situation of tight credit policy, but they are not. On March 20 10, the Interim Measures for the Administration of Financing Guarantee Companies (hereinafter referred to as the Measures) jointly formulated by seven ministries and commissions and promulgated by the State Council was promulgated, which provided a standard for guarantee companies that really provided guarantee services for enterprises and put a spell on them. Article 27-3 1 of the Measures regulates the scale of guarantee, the object of guarantee, capital borrowing and reserve withdrawal, which actually limits the source structure and scale of profits. It is pointed out in the Measures that the main business of guarantee companies is to provide various guarantee services for small and medium-sized enterprises, and they can also engage in financial consultancy and foreign investment business.
Since I served as the director of Yiwu Zhongxin Lihe Guarantee Company, I gradually understand that the guarantee company is only a fund lending and trading institution with the help of banks, which provides guarantees and collects guarantee fees, while banks charge interest on lending funds. As a borrower, an enterprise must pay two main expenses to get a loan. The safe operation of this organization depends on the interaction of many factors such as talent reserve, reasonable business process and perfect internal management system. A little carelessness will trigger a compensation storm and even affect normal operation. Therefore, how to improve profitability and sustainable operation ability on the basis of standardized operation is the key to the healthy and rapid development of financing guarantee companies.
I. Analysis of Profit Composition of Financing Guarantee Company
The profits of financing guarantee companies are generally composed of guarantee profits, foreign investment profits and consulting business profits.
(A) Analysis of the formation of guaranteed profit
Guarantee profit is the main source of profit for financing guarantee companies. Article 31 of the Measures stipulates: "A financing guarantee company shall withdraw the unearned liability reserve according to 50% of the guarantee fee income of the current year, and withdraw the guarantee compensation reserve according to the proportion of not less than 65,438+0% of the guarantee liability balance at the end of the current year. If the guarantee compensation reserve reaches 65,438+00% of the guarantee liability balance of the current year, the difference shall be withdrawn. The measures for the withdrawal of the difference and the management measures for the use of the guarantee compensation reserve shall be formulated separately by the regulatory authorities. " At present, the guarantee rate of domestic guarantee industry is generally between 2% and 3% every year, with an average of about 2.2%. For example, a guarantee company provides enterprises with 200 million yuan of guaranteed loan service a year, with a charge of about 4.4 million yuan, pre-tax unearned liability reserve of 2.2 million yuan, guarantee compensation reserve of 2 million yuan, business tax of 220,000 yuan, urban construction tax and education surcharge of 1.7248 million yuan, and a single business does not exceed 2 million yuan, so it needs to be done 1.50-200. The labor variable cost is about 500,000 yuan, regardless of the fixed cost, the marginal contribution is about-540,000 yuan (440-220-200-22-1.7248-50), and there is no income tax. The more you do, the more you lose.
The document Caishui [2009] No.62 stipulates: "SME credit guarantee institutions can set aside the unearned liability reserve at a ratio not exceeding 50% of the guarantee fee income of the current year, which is allowed to be deducted before the enterprise income tax, and at the same time, the balance of the unearned liability reserve set aside in the previous year will be converted into the current income." In the previous example, if the guarantee company does not make up the loss in the first year and maintains the same guarantee scale in the second year, other conditions remain unchanged, it will be transferred back to the unearned liability reserve of the previous year of 2.2 million yuan, with a marginal contribution of about 6.5438+0.66 million yuan (440-220.
+220-200-22- 1.7248-50)。 If we don't consider the fixed cost, we should make profits step by step, which will test the risk management ability of the guarantee company. In this case, the guarantee company will provide credit guarantee for a loan of 200 million yuan a year, and each loan of 2 million yuan will provide about 100 business. If there is business compensation and there is no relevant counter-guarantee means, the profit of the guarantee company will shrink immediately, and even there will be huge losses.
(B) Analysis of the formation of foreign investment profits
The profit from foreign investment is another important source of profit for financing guarantee companies. Article 29 of the Measures stipulates: "The financing guarantee company's investment with its own funds is limited to fixed-income financial products with high credit rating, such as government bonds, financial bonds, debt financing instruments of large enterprises, and other investments with no conflict of interest and no more than 20% of its net assets."
For example, a guarantee company with a registered capital of 200 million yuan has a foreign capital limit of 40 million yuan at the beginning of its establishment. If you buy 1 year treasury bonds, you can get1040,000 yuan at an annual interest rate of 2.6%. If you buy a fund, according to the report of Phoenix. Com "201011The return on capital is lower than the deposit interest rate, with a negative return of 90%", which is definitely not a qualified investment object in the Measures. If you buy bank wealth management products, take the one-year wealth management products issued by a bank on 20 10 as an example. After deducting the handling fee and management fee, the expected annualized rate of return is about 3.8%~4%. Calculated by 4%, the income can be 6.5438+0.6 million yuan, and the marginal contribution is about 6.5438+0.5 million yuan after deducting taxes such as business tax.
That is to say, a guarantee company with a registered capital of 200 million yuan can make a marginal contribution of100-1500,000 yuan in the first year. The greater the registered capital, the greater the marginal contribution, but the marginal contribution rate is always between 0.5% and 0.75%.
(C) analysis of the formation of consulting business profits
Consulting business is one of the businesses that guarantee companies can run concurrently, and its influence on marginal contribution can be large or small and unpredictable. This part of the profit depends on the management team's business level and ability to undertake business. If the overall strength of the team is strong, it can make an objective profit. If the overall strength of the team is poor, it is likely to be zero.
Second, the financing guarantee company's sustainable management elements analysis
The ability of sustainable operation is the basis and motive force for the long-term operation of guarantee companies. The strength of sustainable management ability is mainly determined by the following factors:
team building
The guarantee company's team is mainly composed of senior management team, business team and logistics team. The senior management team is very important and is the decisive factor for the success of the guarantee company. Team members need to have rich practical experience and relevant knowledge of guarantee business, have strong innovative spirit, be able to lead the team to be brave and good at fighting, keep information symmetry with the business team at all times, and make various decisions at any time according to the actual situation. In addition to having knowledge and practical experience in law, finance, finance and economic management, business personnel also need to have a high sense of responsibility and strong execution. The logistics team is the guarantee of the company's business and needs a high sense of responsibility and super execution. It is the main force to maintain the company's image and publicize corporate culture, which directly affects the efficiency of the whole company.
(B) corporate culture
Although corporate culture is an abstract concept, it is everywhere. It can be expressed from large-scale activities, a reception, a greeting and a phone call. It is an enterprise's attitude towards things and the external performance of the enterprise's sustainable operation. The quality of corporate culture is directly related to the cohesion of an enterprise and the whole team. It guides people how to face difficulties and setbacks, how to get along with others, how to strengthen execution and how to improve themselves in the process of work. A good corporate culture is an important factor for the sustainable operation of the guarantee company, which can motivate and inspire employees to open the market quickly, improve the company's visibility and gain market recognition.