Abstract: my country's small and medium-sized enterprises generally face the phenomenon of insufficient own funds, and there is also the phenomenon of financing difficulties for small and medium-sized enterprises. What are the reasons for the difficulty in financing for small and medium-sized enterprises? How do small and medium-sized enterprises obtain financing? Financing Problems of Small and Medium Enterprises What is the reason why small and medium-sized enterprises have difficulty in financing? How do small and medium-sized enterprises finance?
Small and medium-sized enterprise financing refers to the fact that the ability of small and medium-sized enterprises to withstand risks is generally weak. Financial institutions launch customized financing solutions for small and medium-sized enterprises. , what is the reason why small and medium-sized enterprises have difficulty in financing? How can small and medium-sized enterprises obtain financing? Let's take a look at the "small and medium-sized enterprise financing" brought to you by the editor. Maybe there is what you need.
The reasons why small and medium-sized enterprises have difficulty in financing
my country's small and medium-sized enterprises generally suffer from insufficient own funds. In terms of internal financing, the vast majority of small and medium-sized enterprises in my country are in a very difficult situation. If they cannot turn to external financing, even maintaining production and operations will be a problem, let alone corporate expansion.
1. External environmental factors
1. Government factors
The nature of China’s society determines the importance the government attaches to state-owned enterprises. For a long time, national support policies have been tilted towards large enterprises, while support for small and medium-sized enterprises has been insufficient. This has been a historical reason for the financing difficulties of small and medium-sized enterprises. Large enterprises can easily obtain funds in the capital market and money market, but the financing threshold for small and medium-sized enterprises has been raised accordingly, and small and medium-sized enterprises must pay greater costs to obtain loans.
2. Financial institution factors
(1) The operating mechanism of bank financial institutions restricts the financing of small and medium-sized enterprises. Under the impact of the financial crisis, governments of various countries have adopted the principle of prudence in order to effectively avoid deeper harm caused by the financial crisis. This macro-control has caused small and medium-sized enterprise loans to be harmed first. The internal clean-up and rectification of my country's financial institutions has caused banks to shrink their credit scale, especially "releasing loans" to small and medium-sized enterprises.
(2) Lack of financial institutions suitable for small and medium-sized enterprises. Among state-owned commercial banks, size discrimination among small and medium-sized enterprises still exists. From the perspective of cost savings, large banks are unwilling to invest funds in small and medium-sized enterprises. Although city commercial banks, credit unions, and local commercial banks have become leading banks in supporting the development of small and medium-sized enterprises, the financial strength of these financial institutions cannot fully meet the needs of small and medium-sized enterprises, which ultimately restricts the development of local small and medium-sized enterprises.
3. Credit guarantee system factors
The credit guarantee system for small and medium-sized enterprises in my country is not perfect yet. There are few institutions that provide loan guarantees for small and medium-sized enterprises, and the types and amounts of guarantee funds are far from sufficient. meet needs. Private guarantee institutions suffer from ownership discrimination and can only bear guaranteed loan risks alone, but cannot form a guarantee mechanism with cooperative banks. Since the risk diversification, loss sharing and compensation systems of guarantees have not yet been formed, the amplification function of guarantee funds and the credit capabilities of guarantee institutions are greatly restricted.
4. Direct financing factors
Direct external financing of enterprises is mainly through equity financing through the issuance of stocks and bond financing through the issuance of corporate bonds. In terms of equity financing, the threshold for listing is too high, making it impossible for most small and medium-sized enterprises to obtain urgently needed funds through this method. Although the launch of the GEM, its low threshold for entry and strict operation requirements will help potential small and medium-sized enterprises obtain financing opportunities, the GEM is still in its infancy in my country and there are still shortcomings. It may be able to relatively alleviate financing problems. In terms of bond financing, the development of my country's corporate bond market lags far behind the development of the stock market and bank credit market, and small and medium-sized enterprises often fail to meet the bond issuance quota requirements. Therefore, it is almost impossible for small and medium-sized enterprises to finance through bonds.
5. Legal system factors
The survival and development of small and medium-sized enterprises have always lacked effective legal protection. Although a few laws such as my country's "Company Law" and "Partnership Law" provide There are certain regulations for small and medium-sized enterprises, but there is little protection for small and medium-sized enterprises in financing such as loans, guarantees, and listings.
The "Small and Medium Enterprises Promotion Law" promulgated by our country in 2003 is a milestone in the history of our country's economic legal system. It is one of the signs that our country is truly moving towards a market economy, and it is also an important step in our country's economic democratization. However, the Small and Medium Enterprises Promotion Law also has limitations, and the legal protection system for small and medium-sized enterprises needs to be improved.
2. Factors of small and medium-sized enterprises themselves
1. The quality of small and medium-sized enterprises is low and their credit status is poor
The quality of small and medium-sized enterprises in my country is generally not high, and there are quite a few Some are urban and rural enterprises with weak technological innovation capabilities, lack of competitiveness, and high market risks, which prevent banks and other financial institutions from extending loans to them. Most small and medium-sized enterprises are private enterprises or partnerships with backward management levels, high operating risks, poor credit concepts, imperfect financial systems, and opaque information, which prevents financial institutions from grasping the loan risks of small and medium-sized enterprises and increases lending risks.
2. Small and medium-sized enterprises lack collateral
No matter what kind of enterprise requires a loan or guarantee, it needs collateral to provide guarantee. The only collateral for small and medium-sized enterprises is their limited and low-valued land, real estate and machinery and equipment, and their scale also restricts the value of these collaterals.
What are the ways for small and medium-sized enterprises to finance
1. Comprehensive credit
That is, banks grant certain enterprises with good operating conditions and reliable credit within a certain period of time. The amount of credit line can be recycled by the enterprise within the validity period and the limit range.
2. Credit guarantee loan
When an enterprise cannot provide guarantees that banks can accept, such as mortgages, pledges or third-party credit guarantors, guarantee companies can solve these problems. problem.
3. Buyer's loan
If the company's products have reliable sales, but its own capital is insufficient and its financial management foundation is poor, it can provide collateral or seek third-party guarantees. In more difficult cases, banks can provide loan support to buyers of their products in accordance with the sales contract.
4. Long-distance joint collaboration loans
Some small and medium-sized enterprises have widely sold products, or they provide supporting parts for some large enterprises, or they are loose subsidiaries of enterprise groups. In the process of producing collaborative products, if you need to supplement production funds, you can seek a sponsoring bank to take the lead and provide unified loans to the group company. The group company will then provide the necessary funds to the collaborative enterprise, and the local bank will cooperate with the contract supervision.
5. Project development loans
If some high-tech small and medium-sized enterprises have scientific and technological achievement transformation projects of great value and the initial investment amount is relatively large and the company's own capital cannot bear it, they can apply to Bank application for project development loan.
6. Foreign exchange-earning loans from exports
For companies that produce export products, banks can provide packaged loans based on the export contract or the credit visa provided by the importer.
7. Natural person guaranteed loans
In August 2002, the Industrial and Commercial Bank of China took the lead in launching the natural person guaranteed loan business. From now on, the domestic institutions of ICBC will handle small and medium-sized enterprises within three years. When conducting credit business within the scope of the above, a natural person may provide property guarantee and bear reimbursement liability.
8. Personal entrusted loans
Individual entrusted loans are funds provided by individuals on entrustment, and the commercial bank determines the loan object, purpose, amount, term, interest rate, etc. based on the principal. A loan that is issued, supervised, used and assisted in recovery.
9. Loans secured by intangible assets
According to the relevant provisions of the "Guarantee Law of the People's Republic of China", the exclusive rights to trademarks, patents and copyrights that can be transferred in accordance with the law Intangible assets such as property rights can be used as loan pledges.
10. Bill discount financing
One of the benefits of this financing method is that banks do not lend according to the asset size of the enterprise, but based on market conditions (sales contract).
What to do if small and medium-sized enterprises find it difficult to obtain financing?
In the context of slowing economic growth and difficulty in financing corporate financing, how to raise funds required for corporate development has become a top priority for enterprises. .
Corporate financial personnel should not only make a difference in corporate financing, but also use their professional advantages to show off their skills.
"Know yourself and the enemy, and you can fight a hundred battles without danger." In bank financing, knowing oneself means having a clear understanding of the company's operations, financial status and development plans, and knowing one's enemy means understanding the main financial indicators and standard values ??that banks focus on when rating and granting credit. On this basis, through communication with banks, corporate financing statements are prepared in accordance with bank requirements, successfully pass bank credit approval, break through financing obstacles, and achieve corporate sustainable development goals.
In terms of actual operation, "Zhiji" means to calculate whether the company can obtain financing from banks and the amount of financing without adjusting the statements. Limited by knowledge, experience and other factors, "confidant" has become the "short board" of many small and medium-sized enterprise financial personnel. They rashly provide financing information without knowing much or even nothing about the financial indicators that bank credit approval focuses on. , the results can be imagined. Therefore, before formulating a financing plan, the enterprise can calculate the new working capital loan limit without adjusting the statement according to the calculation formula of "new working capital loan limit" stipulated in the "Interim Measures for Working Capital Loans" of the China Banking Regulatory Commission. If the amount is less than the company's proposed financing amount, the statement should be adjusted appropriately to increase the company's new loan limit.
"Knowing the enemy" means to prepare financing statements based on the bank's approval of a certain loan amount and based on the approval standard values ??(experience values) of the company's main financial indicators during the bank's credit granting process. You can use the "new working capital loan limit" stipulated in the "Interim Measures for Working Capital Loans" of the China Banking Regulatory Commission to deduct the sales revenue scale, and then use the approval standard values ????(experience values) of the main financial indicators to deduct the sales cost, receivables and payables, The amount of inventory and other items, so as to prepare financial statements that meet the bank's requirements.
Specific practical handling precautions
1. Bank financing requires effort beyond the “table”. Be sure to maintain good and smooth communication with the bank. High-quality reports are only the basis for successful bank-enterprise cooperation;
2. Overall planning, financial statements should be connected with sales, production, purchasing and other data to avoid focusing on one and losing sight of the other. ;
3. Know yourself and the enemy, be familiar with bank rating and credit approval processes and standards, be honest with each other, and negotiate on an equal footing;
4. Use financial software to establish a complete bank financing account set and improve financial statements Quality, speed up response, and increase the credibility of bank financing statements;
5. Pay attention to details and strictly control the quality of financing information.