小微企业融资难问题分析与对策研究.docx

《小微企业融资难问题分析与对策研究.docx》由会员分享，可在线阅读，更多相关《小微企业融资难问题分析与对策研究.docx（8页珍藏版）》请在淘文阁 - 分享文档赚钱的网站上搜索。

1、改革开放30多年来，我国小微企业迅速发展，在经济社会发展中起到了越来越重要的作用，小微企业的发展促进了就业、丰富了商品供给、促进了国外贸易的平衡。据统计，2014年末我国中小企业占比超过了99%，对GDP贡献率超过了50%，并提供了80%的城镇就业岗位。但是，这些遍布在各行各业、数量庞大、融资种类不同、需求不同的小微企业，长期以来面临着融资难的问题。受国际金融危机冲击，近年来国经济形势下行压力较大，小微企业融资难问题尤为突出，甚至有的企业陷入了因资金连断裂面临破产倒闭的困境。什么原因导致小微企业融资难？为缓解这一社会问题，需要我们做些什么？值得我们深入思考。一、小微企业融资难已发展成为引起多方

2、关注的社会问题1.国家已启动相关措施缓解小微企业融资难。近年来，国务院、各部委相继出台了一系列有关文件，采取有力措施助力企业融资发展。在监管部门的推动下，小微企业贷款增速回升。截止2014年末，主要金融机构及小型农村金融机构、外资银行人民币小微企业贷款余额15.46万亿元，同比增长15.5%，增速比上年末高1.3个百分点，小微企业贷款余额占企业贷款余额的30.4%，占比比上年末高1个百分点。全年小微企业贷款增加2.13万亿元，增量占企业贷款增量的41.9%，比上年占比水平低1.6个百分点。2.小微企业贷款需求仍然得不到满足。虽然中央和有关部门高度重视，金融机构也加大了扶持力度，但随着经济的发展

3、和贷款需求的不断增加，小微企业甚至规模相对较大的小型企业通过资本市场或从商业银行贷款的难度仍然很大，且获得贷款实际承担的利率水平也明显更高。以为例，通过银行和农信社等传统金融机构融到资的只占21%，而49%的小企业主通过亲友和民间借贷融资，通过小额贷款公司和典当行融资的占7%和1%（其他22%无借贷行为）。而这些企业中63%的企业贷款利率高于基准利率，远高于大型、中型企业，且需支付较多的额外费用。长江三角洲地区，不少小微企业融资成本在15%到25%之间。贷款难、贷款贵问题成为制约小微企业发展的瓶颈。较高的融资成本大于了企业的利润率，导致了企业生存危机，甚至出现“老板跑路”的现象。二、小微企业融

4、资难的社会根源1. 小微企业经营特点和银行机构以“做大做强”为目标的经营战略不匹配。虽然近年来股票市场有了一定的发展，债券市场开始推进，但目前我国的融资结构仍然是以银行间借融资为主，而中国银行从经济成分和股权机构上看以国有主。绝大多数小微企业是民营企业，国有银行在对小微企业信用风险认定上格外谨慎。一方面。近些年银行业在发展过程中把“做大做强”作为首要战略目标，一些中型银行、小银行也由此动向，甚至整合起来组建地方城市商业银行，但他们并没有坚持在区域做精做强，而是仍然优先选择和大中企业对接，导致地区金融缺位。另一方面，小微企业规模小、承受能力较弱，一旦货币政策收紧，小微企业感受的压力更为明显。银行

5、在信贷紧缩、可用资金减少时，从自身盈利最大化、风险最小化的原则出发，优先支持大型优质客户，对小微企业放贷设置重重关卡，条件苛刻，耗时耗力，隐性成本极高，加剧了小微企业贷款难。2.小微企业的自身特点一定程度上不利于信贷融资。主要体现在三方面：一是小微企业财务制度不规、财务报表缺乏可信性。小微企业由于专业人才不足，导致财务会计制度不规，不健全，缺乏系统、连续、全面的财务报告，使得金融机构对其对经营状况和未来发展前景不易准确判断，增加了贷款难度。二是小微企业规模小，抵押物有限。贷款机构利用贷款担保是确保贷款安全性，小微企业因为缺乏足够的实物资产作抵押，商业银行对之放贷比大中型企业更加谨慎。三是小微企

6、业贷款的资金需求“短、频、快、急”，各家企业情况各异，增加了程序的复杂性，增加了成本，因此商业银行对小微企业信贷的积极性偏弱。3. 小微企业信用体系建设滞后，信用担保机制不健全。导致与银行和担保机构的信息不对称，即使信用状况好的企业也很难通过银行及资本市场融到足够的资金。同时，目前的担保机构相对于小微企业的崛起，数量还是偏少且运作不够规，造成在协作银行方面还有不少困难。4.小微企业银行信贷以外的融资渠道较窄。相比大企业可以发行股票、债券及融资租赁、信托等多种方式融资来讲，小微企业的信贷不能满足。三、缓解小微企业贷款难的建议和思考1.加快信用平台建设，改善投融资环境。加快小微企业信用体系建设既有

7、助于金融机构和其他企业了解企业的信用状况，改善融资环境，又能为信用记录良好的企业创造更多的发展机会，降低交易成本，为企业持续健康发展打下坚实基础。建立小微企业信用档案时小微企业信用体系建设的核心环节。建议借鉴发达国家经验，明确赋予人民银行采集企业信用信息的法律地位，细化各级政府相关职能部门配合信息采集和更新的义务，鼓励小微企业定期上报真实的财务信息，同时保护这些信息的安全，提高查询使用的标准；加强部门间协调，促进银行系统和各政府职能部门的信息整合，在加强行业部管理基础上建立和完善信息库，统一信用信息服务平台，规小微企业信用披露、征集、比对、共享和利用等活动；加大信息推介和使用，培养小微企业信用

8、意识，发挥信用信息在小微企业金融服务中的支撑作用 。 2.拓宽融资服务市场，规发展小额贷款公司。在法律规健全的前提下，大力发展以民间资本为主的小额贷款公司，引导规模庞大的民间借贷，遏制地下非法融资，是把处于灰色地带的影子银行、地下钱庄等变为合法化和正规化的有效途径。在制度方面，小额贷款中的借贷行为和利率基本上都是处于市场化运作的，虽然贷款利率略高于银行，但明显低于民间借贷利率。在效率方面，小额贷款公司贷款手续简便，担保条件相对较低，交易过程快捷，能使小微企业迅速、方便地筹到所需资金。在风险防控方面，由于小额贷款公司贷出资金中自有资金比例较大，对贷款项目审查谨慎，并且借贷当事人获得的与贷款相关的

9、信息透明度高，所以小额贷款公司的贷款违约率较低，风险比较小。相比那些大型金融机构，我国小额贷款公司同样在稳增长、调结构的宏观调控政策中发挥着积极的作用，建议通过对运营状况良好、风险防控能力强的优质小额贷款公司，可以增加资本金，扩大经营规模，并适当放宽融资比例，支持其从银行获得相对优惠的利率的同时，经营中遵循市场化原则放松贷款利率管制，另外，减轻税收负担，建立健全评级体系，加强外部监管和监测。3.以金融改革为契机，积极引导稳步发展民营金融。民营金融指的是由政府和国有企业之外的其他主体参与的金融活动，狭义上指民间资本参与并主导的金融活动。相比国营金融，有更主动性和创造性的市场化的特征。因此对解决小

10、微企业融资难有十分重要的作用。虽然近年来小额贷款公司、担保公司、典当行等民营为主的金融形式大量出现，但参与借贷市场的地位相对偏弱，且民营控股的主要金融机构不多，民间资本进入银行、证券、保险等主要金融业的隐性障碍普遍存在。这就需要加快推进以利率市场化和汇率市场化为代表的金融改革，非正规的民营金融受到更多监管，淘汰落后的金融形式和机构，优化业态格局，同时支持民间资本获得更公平的机会参与银行、证券、保险、信托、基金等主要金融行业，在利率市场上增加参与度，获得更多定价权。4.民营银行将为小微企业融资开辟新天地。解决小微企业融资问题根本需要从银行制度入手，我国迄今没有专门扶持小微企业的政策性银行，而在德

11、国、日本、美国等发达国家，早已设有一批专心做小微企业、个人融资的银行，称作社区银行、零售银行等。十八届三中全会明确提出“在加强监管前提下，允许具备条件的民间资本依法发起设立中小型银行等金融机构”，这对于中国也来说是具有里程碑意义的，民营企业创立银行的积极性空前高涨，由于民营资本与小微企业先天的同质性，这对于小微企业是重大利好。同时民营企业兴办银行业将推动中国银行业的差异化、特色化经营，有助于银行更多地发展市场化和商业化的经营。5. 发展互联网金融，用好网贷平台优化资源配置。互联网金融就是将传统金融行业的支付、投融资、风险管理等业务模式搬到网上，由互联网提供银行之外的新通道。近年来网贷平台就是典

12、型的模式之一，它在帮助小微企业贷款方面发挥着越来越重要的作用。网贷平台的本质是线上金融信息中介。 以“陆金所”、“信投在线”为例，这个网贷平台线下完成项目帅选、调研、审核、风控、担保，利用现代信息技术在线上完成项目发布、资金募集、利息发放，让资金提供方和需求方在网贷平台上直接对接，大大提高了融资效率，大幅降低了信息不对称和融资成本。网贷平台相比传统银行贷款和民间借贷，主要有三大优势：一是网贷平台线上引入了担保公司和第三方支付平台最大限度地降低了风险。担保公司负责项目担保，第三方支付就是一些和产品所在国家以及国外各大银行签约、并具备一定实力和信誉保障的第三方独立机构提供的交易支持平台。投资双方的

13、资金通过第三方支付平台完成在融资企业和投资者账户之间的直接流转，平台不触碰资金，降低了操作风险。二是通过云计算的大量信息处理，获得可靠地资金供需双方信息，建立小微企业的信用共享服务平台。这些信息通过社交网络发布和传播，最终形成时间连续、动态变化的一系列信息。任何资金需求者（机构）的风险定价或动态违约概率就可以被揭示，有助于为信誉好、资质优的小微企业迅速融来所需资金。三是在资源配置方面高效双赢。在供需信息几乎完全对称、交易成本极低的条件下，互联网金融模式促成了资金的充分利用和交易，诸如中小微企业融资难的问题得到缓解、个人投资渠道也更加安全可靠。6.政府应采多措并举积极引导，为小微企业发展助力。2

14、014年国务院下发了关于扶持小微企业健康发展指导意见，目前多地正在积极政府设立的创业投资引导基金支持小微企业发展。建议鼓励政府出资筹建担保机构，增加已有担保公司的注册资本金，或建立有国资背景的再担保公司，加大对小微型企业融资担保的风险补偿，为担保公司减少后顾之忧；同时金融部门、银行监管部门应引导大型银行建立服务小微企业金融服务专营机构，引导中小型银行将改进为小微企业服务和战略转型相结合，科学调整信贷结构；对达到一定标准的小微企业（比如吸纳就业能力大的劳动密集型企业）提高贷款额度，对增加小微企业信贷投放有突出业绩的金融机构给予奖励等。30 years of reform and opening

15、up, the rapid development of Chinas small and micro enterprises, in the economic and social development plays a more and more important role, the development of small and micro enterprises to promote the employment, enrich the supply of goods, promote the balance of trade at home and abroad. Accordi

16、ng to statistics, at the end of 2014, Chinas SMEs accounted for more than 99%, the contribution rate of more than 50% GDP, and provides 80% of urban jobs.However, these are all in all walks of life, a large number of different types of financing, different needs of small and micro enterprises, has l

17、ong been faced with the problem of financing. Affected by the international financial crisis, in recent years, the domestic economic situation downward pressure on the larger, small and micro enterprises financing difficult problem is particularly prominent, and even some enterprises in the face of

18、financial crisis due to the collapse of the plight of. What causes small and micro enterprises financing difficulties? To alleviate this social problem, what do we need to do? Worthy of our deep thinking.One, small and micro enterprises financing difficulties have become a social issue of concern to

19、 the community1 countries have started related measures to ease the financing difficulties of small and micro enterprises.In recent years, the State Council, the ministries have issued a series of relevant documents, to take effective measures to help the development of corporate finance. Under the

20、supervision of the regulatory authorities, small and micro enterprises loan growth picked up. Until the end of 2014, the major financial institutions and small rural financial institutions, foreign banks RMB small micro enterprise loan balance of 15.46 trillion yuan, an increase of 15.5%, increasing

21、 ratio last year end of 1.3 percentage points higher, small micro enterprise loan balance accounted for 30.4% of business loans, accounting for Bibi last year at the end of a percentage point higher. Annual small and micro enterprise loans increased by more than two billion yuan, accounting for 41.9

22、% of incremental corporate loans, accounting for 1.6 percentage points lower than the previous year.2 small and micro enterprises loan demand is still not satisfied.Although the central and relevant departments attach great importance to, financial institutions also increased the support, but along

23、with the continuous increase of economic development and demand for loans, small and micro enterprises even scale relatively larger small businesses through the capital market or from the difficulty of commercial bank loans is still large, and obtain loans bear the actual interest rates significantl

24、y higher. Taking Zhejiang as an example, through the traditional banks and rural credit cooperatives and other financial institutions to finance capital accounted for only 21% and 49% of small business owners by friends and family and private loan financing, by small loan companies and pawn financin

25、g accounted for 7% and 1% (22% of lending behavior) .gu6e. .qdvacuum. And these enterprises in 63% of corporate lending rates higher than the benchmark interest rate, much higher than large and medium-sized enterprises, and the need to pay more of the additional costs. Yangtze River Delta region, a

26、lot of small and micro enterprises financing costs between 15% to 25%. Difficult loans, loans to become a bottleneck restricting the development of small and micro enterprises. Higher financing costs than the profit margins of the enterprise, leading to the survival of the enterprise crisis, and eve

27、n Wenzhou boss on foot phenomenon.Two, small and micro enterprises financing difficult social roots1 small and micro enterprises operating characteristics and banking institutions to bigger and stronger as the goal of the business strategy does not match. Although in recent years the stock market ha

28、ve a certain development, the bond market began to promote, but the financing structure of our country is still in the inter-bank loan financing, and Bank of China from the economic composition and ownership structure see to state-owned advocate. The vast majority of small and micro enterprises are

29、private enterprises, state-owned banks in the credit risk of small and micro enterprises are particularly cautious. one side。 Banking industry in recent years in the development process to bigger and stronger as the primary strategic objectives, a number of medium-sized banks, small banks also from

30、this trend, and even the integration set up local city commercial banks, but they did not adhere to doing fine and stronger in the region, but still preferred choice and large and medium-sized enterprises docking, cause of regional financial vacancy. On the other hand, small and micro enterprises ar

31、e small, weak capacity, once the tightening of monetary policy, small and micro enterprises feel the pressure is more obvious. Banks in the credit crunch, reduce funds available, from their own profit maximization, risk minimization principle of priority to support large, high-quality customers, set

32、 up barriers to small and micro enterprise lending, harsh conditions, time-consuming, high implicit costs, exacerbated by the small micro enterprise loans difficult.2 small and micro enterprises themselves to some extent is not conducive to the characteristics of credit financing. Mainly reflected i

33、n three aspects: first, small and micro enterprises financial system is not standardized, the lack of credibility of the financial statements. Small and micro enterprises because of the lack of professionals, resulting in financial accounting system is not standard,.wxjy568. .chengxinxy. not perfect

34、, lack of systematic, continuous and comprehensive financial report, the financial institutions of the operating conditions and the future development prospect is not easy to accurately judge, increased the difficulty of the loan. Two is small and micro enterprises, small size, limited collateral. L

35、ending institutions to ensure that the use of loan guarantees security, small and micro enterprises because of the lack of adequate physical assets as collateral, commercial banks to lend more cautious than large and medium enterprises. Third, small and micro enterprise loan demand for funds in the

36、short, frequency, fast and urgent, each enterprise is different, an increase of the complexity of the procedure, increase the cost, so the commercial bank credit to small and micro enterprises positive weak.3 small and micro enterprises credit system construction is lagging behind, the credit guaran

37、tee mechanism is not perfect. Lead to asymmetric information between banks and guarantee agencies, even if the credit status of the enterprise is also very difficult to finance through banks and capital markets. At the same time, the present guarantee institutions relative to the rise of small and micro enterprises, the volume is still too few and the operation is not standardized, resulting in cooperative banks there are still quite a few difficulties.8 / 8