Financing Is The Chief Culprit Of "Short-Lived" In Smes.
The financing difficulty of small and medium-sized enterprises is a worldwide problem. In China, the financing problem of SMEs is more prominent. Most of the small and medium sized enterprises fail because of lack of financial support. Although governments at all levels and the financial system have made a lot of efforts to solve the financing problem of small and medium-sized enterprises, the difficulties still exist.
In China, there are more than 4200 SMEs, with an average life expectancy of only 3 to 4 years.
Why are these companies short lived? There are many reasons for this. One of the important reasons is China's financial system.
As we all know, China is a financial system with credit banks as its main body.
credit
The assets of banks account for about 80% of China's financial assets.
In order to be accountable to the depositors, the nature of the credit banks is to love the rich and the poor, and to pursue the absolute low risk. The risk assessment of the SME loan is very large, and the management cost after the loan is high. Especially, the bad loan rate of about 12% of the small businesses is still higher than the average non-performing loan rate of the whole banking industry.
According to the banking industry, "a 5 million yuan SME loan and a 500 million yuan big business loan yield differ 100 times, but it takes much time and effort.
In practice, due to
Small and medium-sized enterprises
Financial information is opaque and has to be checked repeatedly for its inventory and electricity consumption. The operation time is often longer than that of large enterprises. "
More experts believe that, because SMEs are not strong enough to resist risks, the overall risk is high and the mortality rate is high, banks should be accountable to depositors and it is impossible to invest large sums of money in high-risk areas.
Moreover, small and medium-sized enterprises generally have low credit level and business owners generally evasion of taxes.
More importantly, because of the lack of collateral in general, lending to SMEs is bound to lead to additional risks relative to lending to large enterprises.
Obviously, it is reasonable for credit banks to lend money to SMEs.
The key to the problem is that China's financial system, which takes credit bank as its main body, occupies the vast majority of financial resources, and other financial institutions are not developed.
A survey by the people's Bank of China shows that 98.7% of China's SME financing comes from bank loans.
This shows that narrow financing channels lead to small and medium-sized enterprises.
financing
Only "one road in Huashan" can go.
Therefore, most SMEs must finance in credit banks. Most SMEs are losers of credit bank financing and have to suffocate.
China's financial system, with credit bank as its main body, has become the primary cause for the suffocation of small and medium-sized enterprises.
At present, when we solve the problem of financing difficulties for SMEs, we still insist on credit, such as the establishment of various types of small banks and the implementation of small loans in all kinds of ways. There is still no way out of credit to support SMEs.
Although China has set up a technological innovation fund for SMEs and an international market development fund, it is difficult to meet demand because of its limited number and limited scope of services.
Therefore, the financing difficulty of SMEs has not been alleviated.
In the long run, reforming our financial system is the fundamental way to solve the financing difficulties of SMEs.
But the urgent task is to complete the legal protection system and the government support system, improve the venture capital system, broaden the channels for direct financing, and smooth out the exit channel of venture capital.
In this way, small and medium-sized enterprises can develop and grow through equity financing.
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