However, when financing small and micro enterprises, most of them rely on "human feelings" rather than "credit".
According to the data of China Household Finance Survey (CHFS), 32% of small and micro enterprises participate in private lending, while 13% get loans from banking financial institutions.
Don't they want to borrow money from the bank? The answer is no.
Generally speaking, it is too difficult for small and micro enterprises to survive!
What are the difficulties of small and micro enterprises?
The difficulties of small and micro enterprises are mainly manifested in three aspects:
First, the profits of small and micro enterprises are thin.
There are a large number of small and micro enterprises in China, with fierce competition and meager profits.
Specifically, due to the low technical content of products, most small and micro enterprises are doing similar products, which is a buyer's market, and the prices are severely squeezed and the profits are meager. According to statistics, many export-oriented enterprises have only relied on export tax rebates to survive, and some companies even rely on continuously extending the working hours of their employees to enhance the price competitiveness of their products.
First of all, this phenomenon is related to the culture of China people. China people can be said to be the most industrious people in the world. Even for a little profit, they are often willing to work day and night in a very difficult environment.
There is a saying in the United States that once China people enter a certain industry, the profit rate of this industry will become zero, because the hard work of China people will drain the last profit.
Although this statement is somewhat exaggerated, it is one reason why the profits of many industries have become thinner.
Secondly, in the global industrial chain of many industries, the products of China enterprises are mainly the fruits of manual labor, with little added value and still at the low end of the industrial chain. Only by constantly paying physical labor can we have a meager income.
Regardless of state-owned enterprises and migrant workers, the proportion of people who are still working after the age of 40 in China is obviously smaller than that in the United States. People in their forties and fifties are naturally less energetic than those in their twenties and thirties, but people in their forties and fifties are very experienced. Enterprises choose energetic employees instead of experienced employees, which shows that the requirements for experience are not too high, and it also shows that these enterprises have limited technology accumulation.
Now some people say that some small and micro enterprises have a hard time because employees are not easy to recruit, saying that employees want this and that and ask too much. The author believes that this is still because the profits of small and micro enterprises themselves are too thin. If the profit is good, enterprises can offer better recruitment conditions to attract talents. As long as the treatment is in place, talents are still willing to come. After all, most migrant workers still take treatment as the standard.
It is also said that high rents have killed many small and micro enterprises. I think this statement is not entirely correct. If the rent is too high, no one will rent it, and the landlord will suffer because he can't receive the rent. The landlord will definitely choose a rental price, which is the choice of the market.
Second, the tax burden of small and micro enterprises is not light.
According to the special report "Tax Payment 20 19" issued by the World Bank and PricewaterhouseCoopers, the overall tax burden of enterprises in China in 20 17 was 64.9%, that of American enterprises was 43.8%, and the world average was 40.3%. Among the major economies in the world, China's overall tax burden is second only to Brazil, as shown in the following figure:
In China, labor tax (mainly five insurances and one gold for employees) accounts for the main proportion. China's labor tax accounts for 45.4%, which is three times the world average 16. 1% and about 4.5 times the corresponding value of 9.8% in the United States.
What needs to be explained here is that the tax structure of the United States is different from that of China. The United States mainly focuses on personal income tax and consumption tax, and enterprises do not have the burden of five insurances and one gold. These figures are not easy to compare directly.
But overall, China's corporate tax burden is higher than that of most major economies in the world. Especially for small and micro enterprises, these costs are heavier because of thin profits.
Third, the financing cost of small and micro enterprises is high.
The financing cost of small and micro enterprises has been high, which is a heavy burden.
At present, the policy requires state-owned banks to provide ultra-low interest rate credit to small and micro enterprises. State-owned banks have indeed done so, and the credit qualifications and conditions for small and micro enterprises are much simpler than before, which has provided substantial help to small and micro enterprises. However, it should be noted that in order to rapidly promote credit business, large banks often require a certain sales scale or a certain industry license or qualification as collateral. The number of small and micro enterprises that meet the requirements is still too small, and a large number of small and micro enterprises fail to meet the requirements.
For credit institutions, the cost of lending to small and micro enterprises is mainly divided into: customer acquisition, data source (data that can reflect enterprise credit), collateral, guarantee, credit analysis (including labor) and post-loan management. Some credit institutions calculate customer acquisition cost, data source cost, mortgage and pledge cost separately in order not to exceed the regulatory interest rate ceiling, so that the loan interest rate of small and micro enterprises does not exceed the regulatory interest rate ceiling on the surface, but the actual interest rate has far exceeded the regulatory interest rate ceiling.
Small and micro enterprises are naturally weak in various industries, with unstable operation and high overall credit non-performing rate. Credit institutions' risk control measures for these customers are either imperfect or costly, and at the same time, they need a lot of cost for post-loan monitoring. If mortgage guarantee is involved, the valuation of collateral and the guarantee fund of the enterprise are also costs. In fact, the credit line of small and micro enterprises is generally not too high, and the spread earned from it is naturally not high.
In short, small and micro enterprises have high credit risk, high cost and low income. These costs will inevitably be passed on to small and micro enterprises themselves, that is, their own financing costs.
How to help small and micro enterprises?
China is different from German, Japanese, American and other developed countries. The vast majority of small and micro enterprises in China still can't talk about technology accumulation, but still stay in solving the problems of food and clothing and employment. They are not substantially competitive and cannot copy their advanced policies. This kind of small and micro enterprises is an important part of China's real economy. To help them develop and become decision makers, relevant policies and measures have been introduced one after another.
First of all, national policies strongly support it.
At present, the state is vigorously providing assistance to small and micro enterprises at all levels, such as reducing taxes and fees, lowering interest rates, providing credit, and reducing personal income tax.
(1) In terms of taxes and fees, after reducing taxes and fees for small and micro enterprises in previous years, we will continue to reduce taxes and fees for small and micro enterprises in these two years;
(2) Regarding the financing of small and micro enterprises, on the one hand, the state requires credit institutions to provide low-interest loans for small and micro enterprises; On the other hand, relevant data sources, such as the tax bureau, are required to provide data directly to banks so that banks can judge the credit of small and micro enterprises;
(3) It is convenient to grant capital relief to banks that provide credit to small and micro enterprises;
(4) Providing policy loans to small and micro enterprises;
(5) Providing government guarantees for small and micro enterprises;
(6) Tax reduction for ordinary residents will enhance their purchasing power;
(7) Constantly optimizing laws and regulations is conducive to the business development of small and micro enterprises;
(8) A series of real estate control policies were introduced to prevent the real estate industry from absorbing too much capital, thus inhibiting the supply of funds in other industries, especially small and micro enterprises.
Second, financial technology is booming.
In recent years, the vigorous development of financial technology, especially internet financial technology, has played a huge role in helping small and micro enterprises to operate, especially in financing. Specifically:
(1) Financial technology makes trading more convenient. For example, the two-dimensional code payment paid by Alipay, WeChat and Suning is convenient for customers to pay for consumption, and the transaction becomes extremely convenient.
(2) Financial technology enables enterprises to reach customers quickly and reduce the cost of obtaining customers. For example, public comments can let customers quickly know about nearby restaurants and facilitate customers to arrive in time; Yilong Com and Ctrip. Com can help customers find their destination hotels quickly. Taobao and Suning's online shopping platforms allow millions of small and micro enterprises to directly face global customers, making it convenient for customers to directly select goods.
(3) Financial technology brings together data originally scattered in various places, and uses big data technology to comprehensively depict small and micro enterprises, so that credit institutions can more accurately assess risks and reduce the bad costs of credit institutions. For example, Tongdun and Bai Rong collect all kinds of credit data and access them to credit institutions, which is convenient for credit institutions to analyze and make decisions.
(4) Financial technology makes it unnecessary for credit institutions to collect customer information on site by account managers, and the assessment of customer risk can be completed remotely, which saves a lot of on-site inspection costs for credit institutions, thus facilitating remote, rapid and timely credit issuance. For example, Wechat business loan from Weizhong Bank and Wechat business loan from Suning Bank are all credit loans developed by using Internet technology.
(5) Financial technology makes transaction security, identity confirmation and transaction verification extremely convenient. Many transactions can be completed online without meeting, which greatly reduces the cost of both parties.
Financial technology is developing with each passing day. Financial technology can help small and micro enterprises in raw material acquisition, customer acquisition, identity confirmation, transaction confirmation, transaction security, product research and development, commodity transportation, financing assistance and enterprise management.