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Pick to: the rationality of the existence of small and medium-sized enterprises and the important role in economic decision, the small and medium-sized enterprises must attach importance to the existence and development. Due to the small and medium-sized enterprise with its own characteristics, namely small scale, controllable resources scarcity, and often in rapid development stage, need a lot of capital investment. Accordingly, small and medium-sized enterprise's survival and development, financing is one of the key factors, but now the sme financing status is not very ideal, and how to combine the characteristics of small and medium-sized enterprises rapid financing this paper mainly studies the problem. Keywords: small and medium-sized enterprises;finance; investment risk A small and medium-sized enterprise financing difficulties http://www.ukassignment.org/mbaessay/ (a) in bank loans, to small and medium-sized enterprises of the bank is lack of effective risk identification method. The central bank loans to cancel the floating ceiling, commercial Banks can make full use of different means of floating rate risk of small and medium-sized enterprises are, at the same time, the central bank loan pricing of commercial bank credit policy also encourage increased the loans to small and medium-sized enterprises of small and medium-sized enterprises, improve loan market. But the commercial Banks, even the ten safety sme credit established, but still prevalent grabbing big customer focus strength and reluctant to lend small to large enterprises, and perfects the small lifesaver. Additionally, the sme loans actually also reflects the current commercial bank loans assessment on another problem that of state-owned enterprises and private enterprises have also national treatment. Small and medium-sized enterprises are usually private enterprise, now although in formal laws and regulations and in private enterprises and state-owned enterprises on the discrimination, but in practice, if the credit of state-owned enterprise's loan personnel problems, may be considered as "meat in pot;" If credit loans to private enterprise, often appear problem may be regarded as have privately insider trading and interests. The idea that part of small and medium-sized enterprises to extend the credit loan market the hesitation attitude. (2) in direct financing aspect, is the existing capital market can meet the financing needs of small and medium-sized enterprises. On May 27, 2004 in shenzhen stock exchange, the establishment of small and medium-sized enterprises of our country, and formal functioning plate multi-level capital market construction, the sme financing and the development of venture investment, which are of significance for small and medium-sized enterprises of equity financing of specialized markets opened. But its position as a fast-developing enterprise's financing needs. (2) informal financial departments is still small and medium-sized enterprises, especially the establishment and operation of private enterprise to solve the important channel funds. Based on the small and medium-sized private enterprises through normal channels can satisfy the requirements of private economy, in some developed regions, informal financial activities will come into being. Although supervision department strict limits of various forms of financing activities, folk folk "fund raising activities" strict ban, but the financial activities of the objective existence is an indisputable fact. In fujian, zhejiang, the private enterprise in the venture capital almost no one from the formal financial department is in the process of the development of enterprise financial departments rarely get the support. So far, many enterprises is still the main source of funds and informal channels of financing, financing of self. Second, the sme financing status and countermeasures (a) small and medium-sized enterprise financing status The author summarizes various factors synthetically financing difficulties of small and medium-sized enterprises is based on the following reasons: 1 small and medium-sized enterprise bankruptcy or suspension of higher rates, is unwilling to Banks provide loans to small and medium-sized enterprises, one of the main reasons. While in China, not about enterprise collapse statistical data, but some bank management personnel, China has estimated nearly 30% of the small and medium private enterprises in 2 years, nearly 60% in four years. The collapse of a high rate of small and medium-sized enterprises, obviously make loans to the bank when facing greater risk. Loan repayment of high default rate is unwilling to Banks provide loans to small and medium-sized enterprises is one of important reasons. In city commercial Banks in China, the survey found that the default rate of small and medium-sized enterprises of ten enterprises default rate. Although Banks non-performing loans by large companies in the stock is higher, but to small and medium-sized enterprises loan non-performing loan ratio with big enterprise's non-performing loan ratio is about. 2 and the lack of mortgage guarantee. In theory, there are many assets can be used as a loan collateral, including land, buildings, housing and realizable savings, machinery and equipment, inventory, accounts receivable, sales contract, etc. In the United States, accounts receivable or stock bank mortgage assets 2/3. In China, the bank of collateral, the requirement is very demanding, except land and property of other forms of little bank collateral. Small and medium-sized enterprise general lack of real estate private bank acceptable collateral, loan restrictions, the discount rate high, formalities trival, expensive, small and medium-sized enterprises generally unbearable. In addition, small and medium-sized enterprises to find suitable guarantor. Some well-performing enterprises is not willing to give other enterprise as collateral, the benefit of the enterprise, the bank generally do not allow the sponsor and small and medium-sized enterprises, between guarantee often become a figurehead. 3 small and medium-sized enterprise operation time is short, generally lack of credit history records exist internal management system and the financial system is not perfect. In order to add their own interests, not LouFu unwilling to reveal ZhaiWuLiang, commercial secrets, debt channels to evade taxes and more worse or preferential policies to not truly reflect the operating and financial conditions, so that enterprises can find no account of an enterprise, two sets of the phenomenon, sets are quite popular. (2) strategies introducing investment risk The author thinks the medium and small-sized enterprises based on the characteristics and existing financing system for small and medium-sized enterprises, introducing investment risk attitude as the main ways of financing smes. Risk investment and say, in the business startup investment enterprise development is the initial investment risk capital, development of mature, through the market exit mechanism by which will be put into equity capital fund, in order to obtain high risk investment, take benefits. Risk investment mainly embodied as follows: normally, risk investment company mostly with the form of equity capital investment, business enterprise invested by the stock exchange, but not with the majority of investment enterprises for the purpose of the invested capital, capital invested enterprises to 30% of the total. Investment is high speed, ten development initial period of growth of small and medium-sized enterprises. Investment companies in the risk to infuse capital enterprise to minimize risks, the risk investment company will use their knowledge and long-term experience in the management of enterprises, from management support. So to support the development of venture investment enterprises grow up faster ten ordinary similar enterprise. The main purpose of the investment risk is to obtain high capital gains. In the risk investment enterprise, the selected is concerned about the risk investment company has invested enterprise development potential and equity, its value is not in respect of the ten investment profits, but in the enterprise development prospect and asset value. Venture capital as a stake in the nature of capital to small and medium-sized enterprises, provides an alternative source of capital, and equity holdings for a long time, not the specific management, enterprise's long-term development and so on these characteristics and suitable for the long-term development of small and medium-sized enterprises. More importantly, risk investment usually in development strategy, financial management, management structure, market development, human resources and further financing provide value-added services, etc. These resources of risk investment and value-added service in relation to the survival and development of small and medium-sized enterprises of strategic management plays a great role in promoting, and the development of small and medium-sized enterprises is of far-reaching significance. References: [1] GaoXinWei: the investment choice of small and medium-sized enterprises, enterprise reform of ten error with management, 2008 [2] WangYongGang: the small and medium-sized enterprise financial management measures, friends of accounting in 2009), (4). [3] ZhangLiu wave, LiuZhiHui: the sme financing review of accounting theory, research, and May 2009. 民营企业融资问题 摘要：对小型和中小型企业存在的合理性和经济决策中的重要作用，小型和中小型企业必须重视的存在和发展。由于具有自身特色的小，中型的企业，即规模小，缺乏可控资源，并在快速发展阶段往往需要大量的资金投入。因此，小型和中小型企业的生存和发展，融资是关键因素之一，但目前中小企业融资现状不是很理想，如何结合小型和中小型企业特点的快速融资本文主要研究的问题。#p#分页标题#e# 关键词：小型和中小型企业，金融，投资风险 一、中小型企业融资困难的原因 （一）在银行贷款，银行小的中小型企业是缺乏有效的风险识别方法。中央银行取消贷款浮动的上限，商业银行可以充分利用小型和中小型企业的浮动利率风险的不同是指在同一时间，央行对商业银行信贷政策也鼓励增加贷款定价对小型和中小型企业的小型和中小型企业贷款，提高贷款市场。但商业银行，甚至十大安全中小企业信用建立，但仍普遍抓大客户集中力量，不愿放贷企业从小到大，并完善了小救星。此外，中小企业贷款实际上也反映了当前商业银行的另一个问题，即国有企业和民营企业也国民待遇贷款评估。小型和中小型企业通常是民营企业，现在虽然在正式的法律，法规，民营企业和歧视的国有企业，但在实践中，如果国有企业的贷款，人事问题的信用，可以考虑作为“肉锅”如果信用贷款，民营企业，经常出现的问题可能会被视为有私下内幕交易和利益。有观点认为，小型和中小型企业的一部分，扩大信贷市场的犹豫态度。 （2）在直接融资方面，是能够满足现有的资本市场融资的小型和中小型企业的需求。在2004年5月27日在深圳证券交易所上市，小型和中小型企业对我们的国家，正式运作板多层次资本市场建设，中小企业融资与创业投资发展，其中的意义是小型成立与专业市场的股权融资中小企业开放。但它作为一个快速发展的企业的融资地位的需要。 （2）非正式金融部门仍然是小型和中小型企业，特别是建立和民营企业解决资金运用的重要渠道。对通过正常渠道小型和中小型民营企业为满足民营经济的要求，在一些发达地区，非正式金融活动将应运而生。虽然监管部门对各种形式的融资活动严格限制，民间民俗“筹款活动，”严格禁止的，但客观存在的金融活动是不争的事实。在福建，浙江，在风险资本几乎没有正规的金融部门之一，是民营企业在企业财务部门的发展过程中很少得到支持。到目前为止，许多企业仍然是资金和非正式渠道融资的主要来源，自负盈亏。 二、中小企业融资现状及对策 （一）小型和中小型企业的融资现状 笔者总结了各种因素的综合融资的小型和中小型企业的困难是基于以下原因： 1，小型和中小型企业破产或暂停加息，也不愿向小银行提供贷款和中小型企业，主要的原因之一。而在中国，不是企业倒闭的统计数据，但一些银行管理人员，中国估计在2年近30的中小民营企业的％，将近60％的四年。一个小型和中小型企业的高倒闭率，显然使向银行贷款时，面临着更大的风险。贷款高违约率偿还银行不愿向中小企业提供贷款，中小型企业是重要原因之一。在中国城市商业银行，调查发现，十家企业的坏帐率小，中型企业的违约率。虽然银行不良在大公司的股票贷款是高，但小型和中小型企业的贷款不良与大企业的不良贷款比率贷款比率是什么。 2，抵押担保不足。从理论上讲，有很多资产可以被用来作为贷款的抵押，包括土地，建筑物，房屋及可变现的节省，机械和设备，存货，应收账款，销售合同，美国等，应收账款或股份制银行按揭资产2 / 3。在中国，抵押品的银行，要求非常苛刻，除了土地和小银行抵押的其他形式的财产。小型和中小型企业普遍缺乏房地产私人银行可接受的抵押品，贷款限制，折扣率较高，手续繁琐，价格昂贵，小型和中小型企业普遍难以承受。 此外，小型和中小型企业找到合适的担保人。一些表现良好的企业是不是愿意给其他企业作抵押，对企业效益，银行一般不允许赞助商，小型和中小型企业之间的担保往往成为一个傀儡。 3，小型和中小型企业的经营时间短，普遍缺乏信用历史记录存在内部管理制度和财务制度不健全。为了增加自己的利益，而不是LouFu不愿透露ZhaiWuLiang，商业秘密，债务的渠道，逃避税收，更差或优惠政策不能真正反映经营和财务状况，使企业能够找到任何一个企业的账户，两个现象套，套很受欢迎。 （2）战略引资风险 笔者认为，中，小型企业的特点和为小型和中小型企业现有的融资体系的基础上，引进投资为中小企业融资的主要方式风险的态度。风险投资，并说在创业投资企业发展，是最初的风险资本投资，发展成熟，通过市场退出机制，其中将提出为股权投资基金，以获得高风险投资，以效益。 风险投资主要体现如下：通常，风险投资公司大多是用自有资本投资形式，由证券交易所投资企业，而与投资企业为投资资本的目的多数，资本投资企业30 ％的份额。投资高速，十发展小型和中小型企业的成长初期。在风险投资公司注入资金，以尽量减少风险企业，风险投资公司将利用其在企业管理的知识和长期经验，从管理的支持。因此，为了支持创业投资企业发展快10个普通长大类似的企业。该投资风险的主要目的是为了获得较高的资本收益。 在风险投资企业，选定的是关于风险投资已投资企业的发展潜力和股权投资公司而言，其价值不在于投资收益的十个方面，但在企业的发展前景和资产价值。 风险投资作为资本向小型和中小型企业的性质的股权资本，提供了资金的替代来源，很长一段时间，持有的股权，而不是具体的管理，企业的长远发展，以及这些特点和适宜等为小型和中小型企业的长远发展。更重要的是，风险投资的发展战略，财务管理，管理结构，市场开发，人力资源和进一步融资通常提供增值服务等的风险投资以及有关的生存和发展的增值服务，这些资源战略管理的小型和中小型企业起到了极大的推动作用，小型和中小型企业的发展具有深远的意义。 参考文献： [1] GaoXinWei：小型和中小型企业的投资选择，企业十个月与管理，2008错误的改革。 [2] WangYongGang：小型和中小型企业的财务管理办法，会计之友2009年），（4）。 [3]杖榴波，LiuZhiHui：对会计理论，研究中小企业融资的审查，2009年5月。 ------------------ |
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