Financing Difficulties Of Small Businesses Are Not Without Solutions.

"The financing difficulty of SMEs in China is a general statement. In essence, it is not difficult for medium-sized enterprises, and the real difficulty is small businesses.

And so far, the financing of small businesses has not been solved.

The book "survey on the financing situation of small enterprises in China", written by the China Federation of industry and commerce, was published by China financial and Economic Publishing House recently.

Chen Yongjie, executive editor in chief of the book and director of the Research Office of the National Federation of industry and commerce, made the above remarks in an interview with the economic reference daily, and gave a series of solutions.

It is not small and medium-sized enterprises, but small businesses financing difficulties.

Economic reference Daily: what is the purpose of the survey conducted by the National Federation of industry and Commerce?

Chen Yongjie: the difficulty of financing has become the main bottleneck restricting the development of small enterprises in China. This contradiction is more prominent under the situation of international financial crisis and domestic economic growth.

However, after preliminary investigation, we find that there are obvious differences between the financial and industrial sectors in the financing difficulties of SMEs.

The basic view from the financial sector is that in recent years, the financial sector has taken a series of important measures to alleviate the financing difficulties of SMEs, and the external environment of SMEs' financial services has been improving.

In particular, the CBRC suggested that the financing situation of small and medium-sized enterprises should be improved sooner or later after adhering to the following measures: "four in place", "six mechanisms" and "two goals".

In the first half of 2009, new loans for enterprises increased by 3 trillion and 900 billion yuan, of which SMEs accounted for 56.6%.

The view from the Ministry of industry and the Ministry of the small and medium-sized enterprises is that although many positive measures have been taken and achieved considerable results, the financing of SMEs has not been fundamentally solved.

Despite the rapid growth of credit in the country, most small businesses still do not get loans.

To further understand this situation, the National Federation of industry and Commerce has focused on "financing difficulties of SMEs" as a key research topic in 2009.

Led by the vice chairman of the CPPCC National Committee and Comrade Huang Mengfu, chairman of the National Federation of industry and commerce, the research group of the Federation of industry and Commerce went to Chongqing and other places to conduct research and organize local business associations and relevant departments to carry out thematic research.

After investigation, our main judgement is: there is a serious contradiction between the actual supply of financial resources and the effective demand of the real economy. The main contradiction is that the vast majority of financial resources are controlled by large and medium-sized banks and financial institutions dominated by state-run banks. Most of the financial resources are allocated by state-owned enterprises and large and medium-sized enterprises, while more than 95% of the small enterprises only get very few formal financial resources. The financing difficulties of small and medium enterprises in China are mainly difficult for small enterprises. They should change their understanding of the problem and policy ideas. They will solve the financing problems of small and medium-sized enterprises and solve the financing problems of small enterprises, and reform the relevant systems from two aspects, namely, the supply and demand of small businesses financing, adjust relevant policies, adjust relevant policies, and clearly resolve the objectives.

The difficulty of financing small businesses stems from the traditional impression of financial institutions.

Economic reference Daily: why is small business financing difficult?

Chen Yongjie: in China, there are few large enterprises and few Chinese enterprises.

The problem faced by enterprises is also that small enterprises are obviously different from Chinese enterprises, and Chinese enterprises are obviously different from large ones. This difference is more prominent in financing.

If it is confused, it will inevitably lead to mistakes in knowledge judgment and policy decision.

According to the CBRC data, the loan structure of Chinese enterprises in 2008 accounted for 47% of large enterprises and 53% of SMEs.

According to the statistics of the people's Bank of China, by the end of November 2009, the loans of individual and private enterprises in the short-term loans of the national financial institutions were 689 billion 700 million yuan, accounting for only 4.7% of the short-term loans.

In the medium and long term loans, the proportion of private enterprises loans is smaller.

Therefore, from a statistical perspective, the proportion of financing for SMEs is not low, and has accounted for more than half.

But from the private enterprises as the main body of small business financing, the proportion is very low.

More than 70% of small businesses above Designated Size or above have nothing to do with credit. More than 90% of small businesses and less than 95% of micro enterprises are below credit.

One of the fundamental reasons for the difficulty of financing small businesses is that financial institutions generally believe that the assets and quality of small businesses are not high, and their loans are costly, small in profits, bad in credit and risky.

This recognition also affects the society's view of the credit situation of small businesses.

But this is not the case.

We stated in the book that the overall quality of small businesses is not bad from the perspective of Industrial Enterprises above designated size.

According to the data analysis, nearly 330 thousand small enterprises in the 36 10000 industrial enterprises above Designated Size account for more than 1/3 of the profits and profits, with a certain profit and efficiency accounting for 1/3, with a slight profit and a loss of less than 1/3.

In terms of the size of the whole two or three industry or the situation of small enterprises above Designated Size, the assets quality, economic efficiency, financial records and market reputation of most enterprises are not bad.

One of the small enterprises with good benefits and more than 1/3, its commercial reputation (in the market to keep the contract, to speak credit) is better, a certain benefit of the small business of 1/3, its commercial reputation is also basically good.

Therefore, solving the credit problem of small and medium-sized enterprises above 2/3 will not only increase the risk of banks, but also bring great benefits to banks.

The three step is to solve the financing difficulties of small businesses.

Economic reference Daily: according to your research, how to solve the problem of financing difficulties for small businesses?

Chen Yongjie: to solve the problem of financing difficulties for small businesses, from the perspective of the supply of financial resources, it is necessary to clarify the proportion of large banks' loans to small enterprises and gradually increase their proportion. We should also vigorously develop small and medium-sized financial institutions so that they can serve small and medium enterprises mainly, and make clear the proportion of loans to small businesses and increase the proportion.

To this end, we propose to implement three steps in the book to solve the financing difficulties of small businesses:

The first step is about five main points: first, we should promote the financial services of small and medium-sized enterprises (rather than small and medium-sized enterprises) by large commercial banks and joint-stock commercial banks.

Two, we should vigorously develop urban commercial banks and further increase their loans to small businesses.

Three, to develop the rural financial institutions in a broad range, the main service targets are farmers and small businesses. The proportion of loans to small enterprises should reach at least 70% of their loans.

Four, we should relax the standards of bank admission, and extensively develop regional, industrial small financial institutions such as community banks, science and technology banks, village banks, small loan companies, rural financial mutual cooperatives, and so on, so as to improve the coverage rate of small financial institutions.

Fifthly, we should promote the publicity and legalization of private finance.

The second step is to put forward a strong policy to promote financial institutions to actively carry out small business credit services.

The basic reason for the lack of enthusiasm for small business loans is that the financing of small businesses is "short, small, scattered, frequent, urgent and risky".

Banks believe that small business loans are expensive, mainly due to small loan amount, large number of pens, short time, short profits and thin profits. Two, the risks are large, mainly due to poor operating conditions, lack of credit records, no mortgage items, and little social security.

Therefore, in order to improve the initiative of existing banking institutions for small businesses, there must be a set of credit incentive policies to suit them.

The third step is to reduce the business tax on related services for large and medium-sized banks engaged in small business financing services.

Specifically, small and medium-sized financial institutions should reduce business tax and income tax; fully consider the service cost of large and medium-sized banks to small business loans is significantly higher than that of large and medium-sized enterprises. In terms of financial accounting policies, banks should be allowed to expand the scope of cost expenditure, improve supervision policies, set up specialized duty exemption system for small business financial services, and investigate or exempt the relevant parties from the corresponding responsibilities according to the actual situation and relevant provisions.

In addition, relevant systems should be established as soon as possible to improve the environmental conditions for credit evaluation of small businesses, and to make clear the medium and long-term goals of solving the financing difficulties of small businesses.