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Difficulties in Raising Finance and Sources of Finance Available for SMEs

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Difficulties in Raising Finance and Sources of Finance Available for

SMEs

Abstract：Comparedwithlargesizedenterprises，oneofthechiefcharactersofsmallandmediumenterprises（SMEs）isthatthescaleissmallandthepowerhasbeenhighlyconcentrated.Essentially，almostanysmallenterprisemanagestheirbusinessindependently.Thus，theinitiativeoftheoperatortotallydeterminesthemotivationforprofits.Astheoperatorsaresensitivetothechangeablemarket，implementingthecombinationoftherightofownershipandmanagementcontrolcanhelpoperatorseithersavethesupervisioncostsormakequickdecisions.However，difficultiesinraisingfinancehavesecularlyblockedthedevelopmentoftheSMEs.Therefore，itbecomesakeyissueforthegrowingoftheSMEsthathowtoeffectivelyimprovethefinancingsituationofSMEs.

Keywords：SMEs;restrictfactors;effectivefinancingstrategies

Initially，weneedtoanalyzetherestrictfactorsinraisingfinanceofSMEs.Itcanbesummedupintwoaspects，namely，externalenvironmentalfactorsandtheSMEs’internalfactors.Onlywemakeclearofthesefactorscanwesolvetheproblem.

Externalenvironmentalfactors

ernmentassistanceaspect

Foralongperiod，thenationalpoliciesoftentendtosupportlargesizedenterprises，whilepaylessattentiontoSMEs，rgecompaniescaneasilygainthefundfromcapitalmarketandmoneymarket，yetthethresholdforSMEsfinancinghasbeenincreasedalot.Thus，SMEsmustpayahighercosttoobtainloans.2.Financialinstitutionsaspect

（1）TheoperationmechanismoffinancialinstitutionsconstrainsthefundraisingofSMEs.Undertheimpactofthefinancialcrisis，toprotectthecountriesfromfurtherdamage，governmentshaveadoptedtheprincipleofprudence.Hence，itbecomesmoredifficultforSMEstogetbankloansthroughcreditguarantees.Thismacro-economiccontrolmethodfirstlyposesthenegativeeffectsonSMEs.（2）

ItstilllacksthefinancialinstitutionsthatcommensuratewiththeSMEs.Incertaincommercialbanks，therestillexiststhesizediscriminationtoSMEs.Besides，fromthepointofsavingcosts，anumberofbanksarereluctanttoinjectfundsintoSMEs.AlthoughsomecommercialbanksarewillingtosupporttheSMEs，theircapitalabilitycannotfullymeettheneedsofthosesmallandmediumenterprises，evenrestrictthedevelopmentofSMEsultimately.ItisoneofthemainreasonsforSMEstoobtainloansfrombanksandotherfinancialinstitutionsintermsofthecharacteristicsofitself.SMEs’problemsmainlyexistinthreeaspects：firstly，theauthorityofthebusinessisrelativelycentralizedandthefinancialmanagementisquiteirregular.Italwaysdoesnothaveasystematicmanagementmodel.MostSMEsare“familycompany”，sotheirshareholdersandfinancialmanagersarealwayslikelytobefamilymembers，friendsorbusinesspartners，whichincurthatownershipofthebusinessisrestrictedtofewindividuals，typicallyafamilygroup.Furthermore，topursuethemaximumprofit，profithasbeenusuallyintentionallyreducedbyenterprisesinthereporttopaylessincometax.Bankscannotgetthetruedetailsofbusinessperformancefromthereport.Thirdly，SMEsalwaysownmorecurrentassetsinsteadoffixedones，paniestendtohavesmallamountofregisteredcapital，aswellasinsufficientbankcredit.Noneoftheseconditionsmeettherequirementsoflendingbankloans.Obviously，itmaybedifficultforSMEstoraisefundmainlyrelyingonbankloans.

3.Directfinancingaspect

Toachievethedirectfinance，corporateprimarilyissuesharesofstockandcorporatebonds.Astotheequityfinancing，therequirementsoflistingarequitestrict，whichmakesmostSMEscannotraiseurgent-neededfundsthroughit.WiththelaunchofGrowthEnterprisesMarket（GEM），thosepotentialSMEsmaybenefitfromitslowthresholdenteringandstrictoperatingfeatures.Thus，itprobablyhelpsSMEstorelievecertainfinancingburden.ButtheGEMinmanycountriesisstillinitsinfancythathassomedefects.

4.Legalsystemaspect

SurvivalanddevelopmentofSMEshasalwaysbeenalackofeffectivelegalprotection.EventhoughlegalprotectioninmanycountriesoftheinternationalcommunitytoSMEshascertainpreferentialmeasures，itisstillinsufficientinlending，guarantyingandlisting.Consideringthelimitations，legalguaranteesystemsforSMEsalsoneedtobeimproved.

Internalfactors：

1.SMEsalwayslackmodernbusinessmanagementconcepts，whichmakethemfacehighrisksinoperating.Typicallysmallandmediumenterprisesare“familybusiness”，sotheirshareholdersandfinancialmanagersarealwayslikelytobefamilymembers，friendsorbusinesspartners，whichincurthatownershipofthebusinessisrestrictedtofewindividuals，typicallyafamilygroup.Theauthorityofthebusinessisrelativelycentralizedandthefinancialmanagementisquiteirregular.Also，italwaysdoesnothaveasystematicmanagementmodel.Additionally，SMEshaverelativelyhighdebtlevelsasawhole;soastoletfinancialinstitutionsassumehighercreditrisk.Generally，SMEshavenomediumorlong-termgoalssothattheiroperatingperiodisusuallyshort（only3-5years）.Therefore，theymoreeasilytendtobankruptthanthoselargesizedcompanies.Nowadays，SMEsfacetheunprecedenteddevelopmentopportunities，aswellasseverechallenges.AlthoughthefinancingdifficultiesofSMEshavecausedwidespreadconcernallovertheworld，consideringthevariousreasonsofthisproblem，ernmentcanadjusttheregulationstoimprovemacroenvironmentofSMEs.BanksandotherfinancialinstitutionsmayadjusttheloanpolicysothateasethefinancinglimitationforSMEs.ThemostsignificantpointisthatSMEsshouldimproveitsinnerability.Theyneedtobuildgoodimages，improvetheircreditgrade，andestablishlong-termrelationshipwithbanks.

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毕业论文外文翻译-家族式中小企业融资存在的问题及对策外文文献翻译-中英文论文对照翻译

毕业论文外文翻译-家族式中小企业融资存在的问题及对策外文文献翻译-中英文论文对照翻译

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题目： 家族式中小企业融资存在的问题及对策

第一部分外文翻译原文

Family SME financing problems and countermeasures

1、The status of family SMEs

Family-owned SMEs in the development of our country

experienced a small to large, from weak to strong in the process,

along with the family business in China today the deepening of

economic reform and development and growth, has gone through

four stages: the first stage, From 1978 to 1987, after the

December 1978 Third Plenary Session of the Party, the private

sector began to sprout exploration; the second stage, from 1988

to 1991, in 1988 the state promulgated the "Provisional

Regulations on private Enterprises", the private sector has

been Legislative protection; the third stage, from 1992 to 1996,

the spring of 1992, Comrade Deng Xiaoping's southern tour

speech, encourage private sector development; the fourth stage,

中小企业失败原因英语作文

中小企业失败原因英语作文

中小企业失败原因英语作文

Title: Reasons behind the Failure of Small and Medium

Enterprises。

Introduction:

Small and Medium Enterprises (SMEs) play a crucial role

in driving economic growth, innovation, and employment

opportunities in many countries. However, the success rate

of SMEs is relatively low, with a significant number of

them failing within the first few years of operation. This

essay aims to explore the various reasons behind the

failure of small and medium enterprises, shedding light on

the challenges they face and potential solutions to

mitigate these issues.

1. Lack of Proper Planning and Strategy:

One of the primary reasons for SME failure is the

absence of a well-defined business plan and strategic vision. Many entrepreneurs jump into starting a business

without thoroughly researching the market, analyzing

中小企业融资难外文翻译

中小企业融资难外文翻译

.专业整理.

.学习帮手. Sme financing problems related to the analysis First

small and medium-sized enterprises financing status Reform and opening up china for 30 years of small and medium-sized enterprises obtained arapid development

of enterprises 99 of the small and medium-sized enterprises of our countrymore than 60 GDP contribution

tax over 50 provides 70 of import and export trade and80 of urban jobs. Small and medium-sized enterprises in our country is also an important powerof independent

innovation 66 of invention patent 82 of new product development of smalland medium-sized enterprises from

small and medium-sized enterprises has become the economicprosperity expanding employment adjusting structure promote innovation and new industriesof

important strength. From 80 years since the outbreak of the international financial crisis the

高中英语作文中小企业发展面临的挑战

高中英语作文中小企业发展面临的挑战

高中英语作文中小企业发展面临的挑战

Title: Challenges Faced by the Development of Small and Medium

Enterprises

In recent years, the development of small and medium enterprises

(SMEs) has been a hot topic of discussion.SMEs play a significant role in

the economy by creating jobs, driving innovation, and promoting

regional development.However, these enterprises also face numerous

challenges that hinder their growth and prosperity.In this essay, we will

explore some of the major challenges faced by SMEs.

Firstly, one of the primary challenges for SMEs is the lack of access

to capital.Due to their smaller scale and lower credit ratings, these

enterprises often find it difficult to secure loans or investment from

financial institutions.This limited access to funding restricts their ability

to expand operations, invest in new technologies, or hire additional staff,