Research on Financing of Small and Micro Enterprises in Shenzhen

. With the rapid development of China's economy, small and micro enterprises have become an important pillar of the national economy. The financing mode and financing channels of small and micro enterprises have been greatly improved, but they are still not comprehensive enough. Credit financing is still the core financing mode of small and micro enterprises. However, most of them are small and micro enterprises. When applying for creditor's rights financing, it is often difficult to get a satisfactory response. The financing difficulties of small and micro enterprises are the key factors hindering the development of small and micro enterprises. Therefore, it is of great significance for the financial management and development of small and micro enterprises to study the financing problems of small and micro enterprises and analyze the financial problems of small and micro enterprises. This paper summarizes Shenzhen's finance in recent years through questionnaires. Supporting the experience, practice and achievements of small and micro enterprises in financing, combing the main demands of small and micro enterprises in financing and the problems in financing process of financial support for small and micro enterprises with data, and putting forward relevant suggestions and suggestions.


Introduction
The real economy as the basis of economic development, to promote the rapid development of the real economy is the important instructions of 19 large meeting, to encourage the development of emerging industries, increase to promote the development of emerging enterprises, stability of conventional economic development, industrial transformation of the traditional economy and the improvement of the performance of the services under the premise of actively encourage the development of technology-based smes.The healthy development of small and micro enterprises holds an important position in the economic development of our country, which is the driving force to insist on the considerable and stable economic development, and the good condition of the overall economic development in our country cannot leave the healthy development of small and micro enterprises.Since the financial crisis, the guangdong province shenzhen had a larger impact on the development of small micro enterprise, industry development prospects uncertain, hindered the pace of economic development, increasing the economic pressure of restricting the development of small micro enterprise, due to the small micro enterprise itself all through the external environment and the influence of growth restriction, limited role in the development of China's market economy seriously.This article through to small and medium-sized enterprise financing index as well as the improvement in the banking system to the small micro enterprise service ability of ascension of the plight of the small micro enterprises in shenzhen city were analyzed, and a detailed analysis of shenzhen small micro enterprise financing demand and financing environment, combined with the practice of local and relevant departments to give solution to shenzhen small micro enterprise financing difficulties.The party's 18th National Congress report "supporting the development of small and micro enterprises, especially small and micro enterprises of science and technology" [1], making small and micro enterprises once again become China's economic development The focus.Small and micro enterprises, which are the foundation of China's social and economic structure, play an important role in technological innovation [2], solving urban and rural employment and employment, providing final products and services [3], and paying taxes to the state.However, for a long time, small and micro enterprises have become financially unregulated, have weak profitability, and have high operational risks [4].Financing difficulties have become an obstacle to the development of small and micro enterprises.According to the calculation of the China Banking Regulatory Commission in 2011, China's bank loans are mainly invested in large and medium-sized enterprises [5].The coverage rate of large enterprises is 100%, that of medium-sized enterprises is 90%, that of small enterprises is only 20%, and that of microenterprises is almost zero (Li Rixin, 2012[6].Although the bank has made some attempts around the microenterprise financial business, the entrepreneurial financing dilemma of small and micro enterprises has not been fundamentally resolved.Therefore, solving the financing difficulties of small and micro enterprises cannot be solved by banks alone, but requires the government, financial institutions and small and micro enterprises to jointly promote this work.

Analysis of the financing status of small and micro enterprises in Shenzhen
2.1 Financing indicators of small and micro enterprises have been continuously improved (1)The loans of small and micro enterprises grew rapidly and accounted for higher proportion.In recent years, the loan amount of small and micro enterprises in Shenzhen banking industry maintained a steady growth state.At the end of 2018, the loan balance increased by 26.15% compared with the previous year to reach 880.534 billion, which was 9.95 percentage points higher than the growth rate of other forms of loans, and the average growth rate of some loans of other nonfinancial institutions was basically flat in 20 months.Compared with other first-tier cities, the loan balance of small and micro enterprises increased by 17.3% year on year in Beijing and 23.2% year on year in Shanghai.The loan amount of small and micro enterprises accounted for an increasing proportion of the total loan amount in Shenzhen.In 2009, the loan amount of small and micro enterprises was 12.8%.The proportion of loans to small and micro businesses increased to 20.4 percent at the end of 2018.
(2)The inclusive coverage of small and micro financial services continues to expand It can be seen from Table 1 that the clients of Shenzhen Commercial Bank increased nearly from 2015 to 20173 times, the coverage of local inclusive financial services has been significantly improved, and more and more enterprises and people are enjoying the fruits of financial reform.The expansion of inclusive financial services is crucial to the development of small and micro enterprises in Shenzhen.To accelerate the efficiency of financial services for small and micro enterprises and further improve their satisfaction with financial services, To improve the management level of small and micro enterprises and scientific and technological innovation ability has a good role in promoting the growth and expansion of small and micro enterprises in Shenzhen.Due to the small micro enterprise financial information and data material imperfect aspects of reasons, the cost of financing is relatively sensitive, often affect the financing efficiency of small micro enterprises, by the data in table 2 see shenzhen small micro enterprise financing success rate in a relatively short period of time than most, in recent years, shenzhen financial institutions to simplify the process of financing, reduce duplication of procedures, improve the efficiency of the business, With the improvement of the process system, the financing time of small and micro enterprises is effectively reduced, and the asset turnover rate of enterprises is accelerated, which is self-evident for the improvement of economic benefits.

2.2
The ability of the banking system to serve small and micro businesses has been continuously improved (1) Set up special institutions to serve small and micro enterprises In order to further support the credit scale of small and micro enterprises, many large commercial banks for these small and micro enterprises to carry out the reform of the organizational system, small and micro enterprises and technology franchised enterprises, specially established a special business loan institution.In Shenzhen, 12 national banks have set up small and micro business divisions at the branch level, 17 banks have set up small and micro business financial departments, and 7 banks have set up small and micro or technology specialty franchises.
(2)Formulate assessment mechanism to stimulate the enthusiasm of small and micro enterprises First, in order to enable the growth of credit loans for small and micro enterprises, a separate assessment target has been set for the staff.Among them, there are 19 financial institutions in Shenzhen that include credit from small and micro businesses in staff performance evaluations.Nine banks included "no less than" in the assessment requirements for small and micro businesses' loan acquisition rate, growth rate and increment.Second, we will relax the ability of small and micro enterprises to bear non-performing loans and lower the payment threshold for small and micro enterprises.Seven banks have adopted different systems to manage the nonperforming loan ratio of small and micro enterprises.Compared with the total non-performing loan ratio of small and micro enterprises, the non-performing loan ratio of small and micro enterprises is 2 percentage points higher.In order to increase the enthusiasm of employees in their work and improve their enthusiasm for work, some banks have implemented duty-free measures for financial services of small and micro enterprises.
(3)Improve the approval and credit granting methods for small and micro enterprises First, the credit approval mechanism for small and micro enterprises adopts big data technology.The transaction and credit data of small and micro enterprises are combined with the traditional experience of commercial banks, and the financing of small and micro enterprises is regulated.The faithless small and micro enterprises are regularly publicized to the public, and the small and micro enterprises that violate the rules and are not trustworthy are forced to withdraw from the financing market.The second is to simplify the credit approval process management.Small and micro enterprise financing there are urgent, frequency, small capital demand characteristics, the major banks should be based on the characteristics of small and micro enterprise financing, launch in line with the characteristics of small and micro enterprise financing credit loan, improve the financing efficiency of small and micro enterprises.

Investment and loan linkage drives the development of small and micro technology enterprises
At present, the traditional approval process of Chinese commercial banks lacks one-to-one project identification ability, which makes it difficult for small and micro enterprises to obtain financial support, especially the high-tech scientific and technological enterprises started in recent years.In this regard, Shenzhen financial institutions make full use of their own advantages, through investment and loan linkage to support the development of small and micro technology enterprises.It is mainly reflected in the following two aspects: first, commercial banks and venture capital companies jointly provide a platform to obtain venture capital for technology companies that want to make credit loans; Second, commercial banks through equity participation nvest to reduce investment risk.In 2019, nearly 100 enterprises in Shenzhen received investment linkage support, accounting for up to 67.7%, which shows the convenience and necessity of investment and loan linkage for small and micro enterprises in the process of entrepreneurship and development.

Financing demands and financing environment of small and micro enterprises in Shenzhen
3.1 It is difficult for commercial banks to obtain effective public data It is not easy to obtain data for small and micro enterprise data analysis.Part of commercial bank through a third party to query data systems need to be paid, and the lack of data between different systems certification, hard data effectively, which bring difficulties to the bank credit personnel, they tend to carry out a large number of offline investigation, through analysis of the data for accuracy and authenticity of the data.From these objective factors, the financing difficulty of small and micro enterprises is increased.

Insufficient financial support
More than half of small and micro enterprises do not enjoy preferential policies in financing, which is 70%; 14 percent of companies received preferential industrial policies; Only 10 percent of the enterprises received government awards and subsidies.As for why they failed to win the award and subsidy support, the vast majority of enterprises said it was because they did not understand the relevant support policies, or did not have relevant preferential policies, or the policy threshold was high.

Difficulties in financing intellectual property
Hard collateral is still the main form of bank lending.Although commercial banks are making innovations from physical objects to real power and from tangible assets to intangible assets, there are still many difficulties in putting them into practice.The main reasons are as follows: first, the evaluation value of intellectual property is not credible enough; Second, there are no more perfect treatment measures in the trading market, and the pledge treatment channels are insufficient.Third, complicated and lengthy transaction procedures greatly increase transaction costs.

Investment risk incentive is not perfect
Shenzhen used to be a typical representative of the development of venture capital institutions.Over time, there has been a considerable lack of normalisation of both policies and incentives.In recent years, first-tier cities such as Beijing, Shanghai and Guangzhou have offered more preferential policies than Shenzhen's support investment companies.After the market is rectified, venture capital companies need to spend a long time and carry out administrative examination and approval at the time of registration.To some extent, fund operation efficiency is reduced and some institutions tend to move out.With the rapid expansion of the scale of the industry, in terms of scale and activity, Shenzhen venture capital institutions need There should be a lot of improvement.

Suggestions on improving the financing environment of small and micro enterprises in Shenzhen
4.1 Increase the construction of public information big data cloud service system In the age of big data, opening and sharing of data need to be integrated to integrate all aspects of social information, improve small micro enterprises and financial institutions to the phenomenon of asymmetric information structure, the shenzhen municipal government leading to establish the public information data cloud service system, integration of electric power, industrial and commercial, court, credit reporting, real estate, taxation institutions such as sorting data information, make the data platform for the enterprise can be Shared, It reduces the cost of data collection and is conducive to the long-term development of small and micro enterprises.

Increase financial support
The main reason for the low loan rate of small and micro enterprises in banks is that the bankruptcy rate of small and micro enterprises is relatively high in the process of development, and banks cannot fully ensure the security of funds, which increases the pressure of banks.China's credit guarantees for small and medium-sized enterprises are mostly national banks to provide MLF funds to commercial banks, but the cost rate of MFL funds is low, which can not alleviate the pressure of commercial banks, but we can learn the United States in this aspect to solve the problem.When small and micro enterprises apply for loans from banks, the US government has a special enterprise bureau that will guarantee 75% of loans below $100,000.In this way, the government bears most of the capital risks of small and micro enterprises, which increases the credit of enterprises and reduces the risk rate of enterprises.Our government can learn from this method, set up similar enterprise bureau, small and micro enterprises apply for loans of less than 5 million, the government assumes 70% guarantee, through government support, improve the problem of difficult loans to small and micro enterprises, and better promote the development of small and micro enterprises at the same time.By government guarantees for small micro enterprises with a certain proportion, can to a certain extent reduce the small micro enterprise credit risk, establish special platform, spread the agencies of the government policy sets, released to the bank and the social public, vigorously promote and speed up the examination and approval of all kinds of policies, set up small micro enterprise bank loan risk pools, preferential policies for the full and reasonable use.It is believed that through the integration of local government, financial institutions and the public, the problem of difficult and expensive financing for small and micro enterprises in Shenzhen will be limited solved.

Intellectual property financing policies
should be improved as soon as possible In terms of intellectual property protection of micro, small and medium-sized enterprises in China, the government has introduced relevant policies.From a macro perspective, Henan, Guizhou and other provinces have introduced policies to improve the intellectual property of micro, small and medium-sized enterprises.These policies promote the development of enterprises and protect enterprises at the same time The intellectual property of the industry.From the micro perspective, the intellectual property protection policies issued by the government mainly guide enterprises from the aspects of patent research and development, patent production, financing support, etc.For example, Guangdong Province has formulated and issued the policy "Jiangmen Intellectual Property Office's Support Measures for Patent Creation of Small and Micro Technology-based Enterprises".Each province may also, according to its own development situation, establish its own supporting property rights custody institutions and set up intellectual property rights service platforms to improve the platforms.At the same time, the relevant departments shall establish regional identification and recognition mechanism of intellectual property rights, local authorities on a regular basis to the small micro enterprise intellectual property rights of supervision and inspection, qualification authentication, etc., to conform to the requirements of the classification management for intellectual property rights, for small micro enterprise intellectual property pledge to do in the shortest possible time to complete, the shortest time to obtain financing, financing guarantee efficiency, We will strengthen and improve financing supporting mechanisms.

Increase policy support for venture capital institutions
The high risk of enterprise technology innovation projects further leads to information asymmetry, which is concretely reflected in the innovation activities of venture capital institutions and the government to enterprises.In addition, the signal transmission of roles is performed by intermediaries, so that the phenomenon of information asymmetry is reduced.As for venture capital institutions and government subsidies, they complement each other and act as intermediaries to transmit information for each other.From the perspective of the government, the recognition signal of the enterprise's innovation potential is released by the venture capital institution, which can be manifested as the enterprise being entered by the venture capital.Identifying the needs of companies to help the government, so that those companies that really need technology research and development funds, from the government to obtain research and development funding subsidies become very advantageous.In addition, with the improvement of the effectiveness of government subsidies, the status of venture capital institutions as financial institutions and some relevant rules are further clarified in terms of access, registration, business registration and cross-border capital flow, and the effectiveness of administrative examination and approval items is also improved.Financial reward and subsidy policies can also take Beijing, Shanghai, Guangzhou, Hangzhou and other places as a reference, and try to reward investment institutions that invest in high-tech enterprises in Shenzhen according to a certain proportion.

Table 1
Comparison of loans of Shenzhen commercial banks from 2015-2017

Table 2
Financing time of small and micro enterprises in Shenzhen