How to solve the financing problem of small and micro technology enterprises?

First, how to solve the financing problem of small and micro technology enterprises? (1) Adjusting the banking structure system At this stage, China's commercial banks still occupy a highly monopolized position. Some urban credit cooperatives that used to serve small and medium-sized enterprises merged into cooperative banks and local commercial banks, and their customers became large enterprises accordingly, resulting in the decrease of small and medium-sized financial institutions instead of increasing. This financial service structure not only seriously reduces the financing efficiency of small and medium-sized enterprises, affects their development, but also increases the financial risk of the state-owned commercial banking system. We should reform and innovate the financial community service mode to facilitate local small and medium-sized financial institutions to enter many local private enterprises, and form a good situation of "win-win" between financial institutions and enterprises. Establish a policy bank specifically for small and medium-sized enterprises, specializing in credit financing for small and medium-sized enterprises, and specifically solve the financing problems of small and medium-sized enterprises [5]. Such as Korea SME Bank and France SME Equipment Credit Bank. On the premise of standardization, we should build enough small and medium-sized banks to meet the financing needs of private capital, build a financing platform for small and medium-sized enterprises, and solve the problems of high service cost and underground credit flooding of large banks for small and medium-sized enterprises. (II) Rebuilding the risk control system The financing difficulty of small and micro enterprises is mainly due to the lack of credit of financial institutions. With the help of emerging technologies such as big data, artificial intelligence and blockchain, financial institutions such as banks can realize risk rating and credit management evaluation of small and micro enterprises. Big data technology can mine and analyze the relevance of structured and unstructured data such as business data, business data, recruitment data, financing data, website behavior data, social data and financial data, and give corresponding credit scores to provide credit reference for financial institutions. At the same time, small and micro enterprises should also strengthen their own management, gradually improve corporate credit and cultivate good credit awareness. Strive for financing support from banks and other financial institutions with their own integrity, and consciously accept the management and supervision of relevant departments such as industry and commerce, taxation and finance. Establish accounts according to law, ensure the authenticity and integrity of financial statements, put an end to fraud and self-deception, and strictly demand the enterprise itself. It is of great significance to gradually improve the self-construction of private enterprises to solve the financing problem of small and micro enterprises. (3) Innovative financing methods In terms of financing channels, debt-to-equity swaps and the combination of stocks and bonds can become the financing direction of small and micro enterprises. In financing, supply chain finance, accounts receivable finance and asset securitization can improve the financing difficulties of SMEs. The establishment of industrial investment funds and high-tech venture capital funds will focus on the long-term development of enterprises, reduce the risks of investors and provide guarantees for enterprises, especially high-tech small and medium-sized enterprises. Broaden the financing channels of enterprises' equity, create conditions, improve the capital market, build a platform for qualified small and medium-sized enterprises to issue stock financing, and alleviate the financing difficulties of small and medium-sized enterprises as soon as possible. Vigorously develop the Growth Enterprise Market, gradually rationalize the bond issuance review system, relax the scale restrictions, expand the issuance quota, improve the bond guarantee credit evaluation system, and support small and micro enterprises with good operating efficiency and strong repayment ability to raise funds through issuing bonds. At the same time, banks will build a "green channel" for loans to small and micro enterprises, integrate superior resources such as the government, banks and guarantee institutions, focus on supporting the strong, and promote the priority and accelerated development of the most growth-oriented small and micro enterprises. (IV) Strengthening Policy Support Government departments should provide financial assistance and support to small and micro enterprises in the form of financial subsidies, tax incentives and loan assistance. Financial subsidies are financial subsidies to encourage small and micro enterprises to promote employment, encourage small and micro enterprises to earn foreign exchange through export, and promote scientific and technological progress of small and micro enterprises. Tax preference is to reduce the tax burden of small and micro enterprises through preferential policies such as tax reduction and exemption, reducing tax rate and increasing depreciation rate of fixed assets; The main ways for the government to help small and micro enterprises to obtain loans are loan discount, loan guarantee and direct government loan preference [5]. Second, the analysis of the causes of financing difficulties for small and micro enterprises in China (I) Problems of small and micro enterprises in China 1, and the financial system is not perfect. Because most small and micro enterprises failed to form a scientific and institutionalized management system at the beginning of their establishment, there are a series of problems in the financial management of small and micro enterprises, including the lack of perfect financial management systems and systems, and the inability to dispatch internal funds; Lack of strict capital use plan, low capital turnover efficiency; Inventory management and creditor's rights and debts lack necessary internal control and are arbitrary; Pay attention to profit and ignore cash flow management, and excessive consumption leads to insufficient accumulation. These problems lead to the weak financial management of enterprises and the confusion of financial accounts, which further aggravates the difficulty of enterprise financing. 2. Capital is relatively scarce. The main loan method of banks is mortgage guarantee. In the case of economic depression, the possibility of obtaining loans through credit guarantee is greatly reduced. However, due to capital, equipment and other factors, small and micro enterprises have relatively small stocks of fixed assets and current assets, and even lack of real estate and other resources favored by financial institutions such as banks, which cannot cater to banks' loan preferences [2]. Once the capital chain is broken or fragile, the production and business activities of enterprises will be hit hard. 3. The technical level needs to be improved. At present, the overall technical level of small and micro enterprises in China is not high, the support for scientific and technological activities is small, and the regional distribution is uneven. In addition, most senior talents work in large and medium-sized enterprises, which makes the general management concept of small and micro enterprises backward and their ability to resist risks weak. The scientific and technological activities are mainly concentrated in first-tier cities such as Beishangguangshen and Shenzhen, which has certain restrictions on the financing and development of small and micro enterprises in other provinces and cities. (2) Problems in China Bank 1. Banks are not enthusiastic about providing financing support to small and micro enterprises. Due to the influence of policy uncertainty, bank loans to various enterprises tend to be "polarized". Due to the consideration of asset quality and risk return, the effect must be that most of the credit business of existing banks is concentrated in powerful large and medium-sized enterprises and infrastructure construction projects, while small and micro enterprises are ignored. 2. Lack of small and medium-sized financial institutions specializing in serving small and micro enterprises. Because the country has neglected the development of small and medium-sized financial institutions for a long time, it is difficult to form a perfect supervision mechanism for small and medium-sized financial institutions [3]. At the same time, small and medium-sized financial institutions have not yet realized the transformation of operating mechanism, the loan market is highly monopolized by large banks, and small and micro enterprises lack a stable and open financial service ecological environment. 3. The cost for commercial banks to carry out credit activities for small and micro enterprises is relatively high. For a long time, commercial banks have been the main financing channel for small and micro enterprises in China. The loan business of small and micro enterprises has the characteristics of small amount and high frequency, which greatly increases the management cost of loan banks. In addition, many commercial banks do not have strict market positioning and are very cautious in providing financial support to enterprises. (3) Problems existing in the China Municipal Government. The government's relevant laws and policies on financing small and micro enterprises are still not perfect. First of all, there are no special laws and regulations to regulate credit activities except the general principles of civil law, contract law, guarantee law, criminal law and other credit-related laws and regulations. Secondly, the SME Promotion Law, which aims to solve the financing problem of SMEs in China, only makes general provisions, but does not introduce relevant implementation measures and methods [4]. 2. The capital market is imperfect and the entry threshold is too high. In order to maintain the stability of the financial market, the state has restricted the threshold of equity financing for small and medium-sized enterprises such as SME board and GEM. Small and medium-sized micro-high-tech enterprises have the advantages of strong technological innovation ability, rapid technological upgrading and short industrialization time of scientific research achievements, but they are generally in the initial stage and the production scale is too small to meet the IPO conditions. Excessive financial cost, transaction cost and time cost have become unavoidable practical problems in the financing process of small and medium-sized enterprises. (4) Social problems in China 1. China's capital market is developing slowly. Compared with European and American countries, China's capital market is in a stable initial stage. Many small and micro enterprises, due to information asymmetry, lack of information exchange platform and other reasons, make investors worried, thus losing the opportunity to take advantage of the "wings of capital" [2]. 2. The phenomenon of "polarization" has also appeared in financing activities. High-quality small and micro enterprises with obvious business model, perfect product design and good credit often become the competition targets of major investment institutions and listed companies. Because these enterprises have relatively abundant funds, their financing needs are not great. Some small and micro enterprises with development potential and poor performance at present are often ignored by the market because they can't find suitable investment institutions or institutions lack recognition ability. 3. The credit guarantee system in China is not perfect. At present, China's guarantee companies are mainly divided into three types, namely credit guarantee institutions, mutual guarantee institutions and commercial guarantee institutions. In some backward places, there are only policy credit guarantee institutions for small and micro enterprises, but there are no mutual guarantee institutions and commercial credit guarantee institutions for small and micro enterprises. At the same time, there are few guarantee institutions, and the variety of guarantee is single, so it is difficult to find guarantee. There is no mechanism for business cooperation and risk dispersion among local guarantee institutions, and the degree of organization of the guarantee industry is still very low. The financing problem of science and technology small and micro enterprises in China has been puzzling everyone, but to solve this problem, it is not enough to rely solely on the efforts of one of them. This systematic and complex project needs the full cooperation of all sectors of society, and strives to compete and cooperate with each other and assume the responsibilities of various departments to fundamentally solve this problem.