Improve financing for small and micro enterprises

“The government should play an active role in improving the financing environment for small and micro enterprises. It is necessary to implement precise policies and encourage the introduction of more pragmatic, specific, and support policies that meet the needs of enterprises.”

Premier Li Keqiang pointed out in this year’s government work report that “this year we must make financing for small and micro enterprises more convenient, and the overall financing cost will be steadily reduced.” At the same time, the report also pointed out that guiding banks to expand credit loans and continue to increase first-lending customers, etc. A series of policy measures.

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Small and micro enterprises are an important part of my country’s economy, and their development has always been a topic of general concern for Chinese society from top to bottom. Vigorously supporting the development of small and micro enterprises has become an urgent strategic task. However, in the entire economic system, small and micro enterprises are relatively fragile, and their development environment is not optimistic. They are still facing many challenges and obstacles. The most prominent one is the difficulty of financing and expensive financing. This has become a problem for small and micro enterprises. A big mountain on the road of enterprise development.

Since the beginning of this year, major conferences have focused on small and micro enterprises several times. The first is to introduce various policies to promote the resumption of work and production of small and micro enterprises, including a series of measures such as tax reduction and fee reduction, and increased financial support to help them tide over the difficulties; the second is to promote the digital transformation of small and micro enterprises to become small and micro enterprises Enabling high-quality development; third, continue to improve the business environment for small and micro enterprises, enhance the ability of financial services for small and micro enterprises, and improve the problem of difficult financing and expensive financing. Obviously, the government has long been aware of the plight of the development of small and micro enterprises. In recent years of government work reports, the importance of small and micro enterprises has been increasing and the support has been increasing.

This also reflects from the side that the development status of small and micro enterprises is not optimistic. Why is it difficult for small and micro enterprises to raise funds? This is mainly because small and micro enterprises are generally small in scale, lacking a standardized and efficient governance structure and sufficient capital scale, which directly leads to greater uncertainty and risks in the continuous operation and profitability of small and micro enterprises. It will bring credit barriers to most small and micro enterprises that take bank loans. Due to poor fund replenishment ability, lack of sufficient mortgage assets, and the number of loans is small, the number of times is large, and the time is not fixed. There are even small and micro enterprises that pass financial data. Falsify to obtain financing qualifications. Historical data, mortgage loans, and poor performance in financial statements are all difficult to meet the requirements of the capital market. These all make the credit rating of private enterprises low and it is difficult to gain the trust of banks and capital markets.

Affected by the new crown pneumonia epidemic last year, small and micro enterprises have had a difficult year. Although the government has issued many policies to support the development of small and micro enterprises, tax cuts and fee reductions and smooth financing channels still need to be implemented. Small and micro enterprises are the mainstay of employment. To play their role in stabilizing employment, it is still necessary to continue to improve the business environment for small and micro enterprises, speed up financial supply-side reforms, and smooth the monetary policy transmission mechanism so that the “living water” of policies can actually flow into Among small and micro enterprises.

The author believes that to improve the financing environment for small and micro enterprises, efforts can be made from the following aspects.

First of all, iron strikes need to be hard on their own. While pursuing the policy breeze, small and micro enterprises must also strengthen their internal construction, continuously improve their own credit system and governance structure, and enhance their core competitiveness. At present, small and micro enterprises are ushering in a good environment for innovation and development. On the one hand, the corporate financing environment is improving, and many banks are releasing funds for loan support for small and micro enterprises. For example, during the epidemic, WeBank provided special discounted interest rate reduction policies to the four provinces of Hubei, Guangdong, Henan, and Zhejiang. Preferential interest rates. On the other hand, the market environment faced by small and micro enterprises is also improving. The market access restrictions for small and micro enterprises have been relaxed, the approval process has been simplified, legal protection has been strengthened, and tax and fee reductions have been further advanced. “More efforts will be made in reforms. All these have created sufficient development space for the transformation and upgrading of small and micro enterprises. Small and micro enterprises should return to the essence of operation and production, establish a good credit system, and form a benign interaction with banks.

Secondly, banks and other financial institutions should continuously optimize their service methods and actively break through the barriers of difficult risk control for small and micro enterprises. Make use of digital finance, vigorously develop financial innovation, use big data, artificial intelligence, cloud computing, blockchain technology and other innovations to develop personalized service products, reduce the payment cost of obtaining information from small and micro enterprises, and rely on soft information offline, online Relying on big data, we can efficiently obtain information on small and micro enterprises’ operating status, credit status, accounting status, etc., alleviate the information asymmetry between small and micro enterprises and financial institutions, and reasonably control the scale and frequency of lending to small and micro enterprises.

Finally, the government should also play an active role in improving the financing environment for small and micro enterprises. It is necessary to implement precise policies and encourage the introduction of more pragmatic, specific, and assistance policies that meet the needs of enterprises.

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