Small-and-Medium-Enterprises-financing-decision中小型

SmallandMediumEnterprisesfinancingdecisionAbstract:Thefirstsetsforththesolutionoftherelevantcorporatefinancesomeoftheconceptsandclassification,followedbyimpactanalysisindecision-makingofChina'ssmallandmediumenterprisefinancingenvironmentalfactors,thesefactorsmadeforsmallandmediumenterpriseshowtomakethefinancingofscienceindecision-makingafewobservations.Keywords:smallandmediumenterprises;financingdecision-making;influencingfactorsBusinessgeneration,survivalanddevelopmentareinseparablefromtheinvestmentandfinancingactivities.WithChina'saccessiontoWTOorganization,themarketeconomysystem,thegradualimprovementofthefinancialmarkets,rapiddevelopment,investmentandfinancingefficiencyisincreasinglybecomingthekeytothedevelopmentofenterprises.Forthesmallandmediumenterprises,accordingtotheirowndevelopmentneedsshouldseriouslyconsiderhowtoselecttheirownneedsandsuitedtotheirstageofdevelopmentfinancing,aswellasavarietyoffinancingtheuseoftiming,conditions,costsandrisks,determinetheappropriatesizeofthefinancingandthedevelopmentofthebestfinancingperiods.Tosolvetheseproblems,smallandmediumenterprisesneedtodevelopappropriatefinancingstrategiesinordertomakethemostoptimalfinancingdecision.First,anoverviewofcorporatefinancedecision-making(A)anoverviewofcorporatefinancedecision-makingCorporatefinancedecision-making,istheenterprisevaluecreationobjectivesinaccordancewithitsneeds,theuseofacertaintimingandchannelstotakecost-effectivefinancingtoolforcompaniestoraisethefundsneededforamarketbehavior.Itnotonlychangedthestructureofthecompany'sassetsandliabilities,butalsoaffectedtheinternalmanagement,businessperformance,sustainabledevelopmentandvaluegrowth.Atypicaldecision-makingincludingthesaleofwhatkindoffinancingofdebtandequity(financing),howtodeterminewhichtheywanttosellthevalueofdebtandequity(financingcosts),whentosellmoredebtandequity(financingopportunities)andsoon.Whichincludethefinancingofthesizeofthemostimportantdecision-makingandfinancingdecisions.Financingscaleenterprisesshouldbethepurposeofcompletingtheminimumrequirementsfortheuseoffunds.Thefinancingofenterprisesarediverse,commonthefollowing:1.Fiscalfinancing.Financialfinancingfromafinancialpointofviewout,canbedividedinto:budgetallocation,financialloans,throughauthorizedagenciesofthestate-ownedassetsinvestments,policy-orientedbankloans,specialconstructionofextrabudgetaryfunds,financialsubsidies.2.Bankfinancing.FromtheChinese-fundedfinancialpointofviewthatisoutoftheuseofbankfunds,themainsectionsofvariousgeneration,suchas:credit,mortgageloans,securedloan,discountedloans,leasefinancing,securitiesinvestment.3.Commercialfinancing.Itsthewaytheyarevaried,mainlyincludingtradetransactionprocessthattookplacebetweenenterprisesoncreditproducts,prepaidloansandotherforms.4.Gvoucherfinancing.Themethodincludestendering,financingandbondfinancingtwomajorcategories.(B)thefinancingdecision-makingprocessCorporatefinancingdecision-makingprocesstodevelop,thatistodeterminetheoptimalcapitalstructureprocess.Thespecificdecision-makingprocessis:First,whenasumofmoneytofinancecompaniesfacedseveralfinancingoptions,companiescancalculatethevariousfinancingoptionsrespectively,theweightedaveragecostofcapitalrate,andthenselectoneofthelowestweightedaveragecostofcapitalasa.Secondly,selectedthelowestweightedaveragecostofcapitalisjustthekindoffinancingoptionsbestZhuzhongprogramdoesnotmeanthatithasbecomethebestcapitalstructure,thistime,enterprisesshouldobservetheinvestorsintheloanpaymentrequest,thestockmarketpricefluctuations,etc.,accordingtofinancialanalysistodeterminethereasonablecapitalstructure,whilecorporatefinanceofficerscanusesomeofthefinancialanalysisofcapitalstructure,accessmoredetailedanalysis.Finally,accordingtoresultsoftheanalysisinthecorporatefinancingdecision-makingtofurtherimproveitscapitalstructure.(C)thegeneralideaoftheFinancingofSMEsSMEfinancegeneralideashouldbe:acombinationofinvestmentandfinanceinordertofinanceinvestment-driven.Financialdecision-makinginsmallandmediumenterprisesdonothavethefinancialdecision-makingasbigbusiness(especiallystockcompany),astheindependence,itshouldbeapartofbusinessinvestmentdecisions,financingmustbedirectinvestmentservices.ThismeansthattheSMEsinthedecision-makingmustpassinordertoleadtoinvestmentdecision-makinginthispartofthefinancialmanagementobjectives,ratherthanasstockcompanies,financedecision-makingandfinancialobjectivestoestablishadirectfunctionalrelationship.Thisisbecause:1.SMEfinancialgoalistomaximizeprofits,onlytheinvestmentactivitiesinordertobringprofitsfortheenterprise,thatistheoptimalinvestmentdecisionsistheoptimalfinancingdecision-making.2.TheobviouscontradictionbetweensupplyanddemandoffundsforSMEs,corporatefinancechannels,quantity,timeisinfluencedbyvariousobjectiveconditions.Toactlikelargecompaniestheflexibilitytousevariousmeanstofreelyadjustthecapitalstructure,forSMEsisunrealistic.Thus,fordecadesoperatinghistory,layermanagementbyprofessionalmanagersofsmallandmediumenterprises,financingplanforinvestmentservices,andmustbematchedwithinvestmentdemand,includingfinanci