浅析发达国家对中小企业融资的政策扶持商务英语.docx

浅析发达国家对中小企业融资的政策扶持商务英语.docx

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浅析发达国家对中小企业融资的政策扶持商务英语

题目：

TheSupportingPoliciesofDevelopedCountriesontheFinancingofSmallandMediumEnterprises

浅析发达国家对中小企业融资的政策扶持

Abstract

Smallandmedium-sizedenterprisesarenotonlyanimportantpartofthenationaleconomyandplayastrategicroleintheeconomicdevelopmentofChinabutalsoinothercountriesaroundtheworld.Economistsallovertheworldgenerallybelievethatsmallandmedium-sizedenterpriseswillbethemaindrivingforceofeconomicdevelopmentinthecentury.Viewedfromacertainanglewecanseethattheprocessofworldeconomicdevelopment,manysmallandmedium-sizedenterprisesaroundtheworldhaveexposedsomedeep-seatedproblemsintheirgrowth.Whatsurprisedusisthatthetechnologicallevelisbackward,thelaborproductivityislow,andthemarketcompetitivenessisrelativelyweak.Governmentshaveadoptedaseriesoffiscalandothersupportingpoliciestopromotethegrowthanddevelopmentofsmallandmedium-sizedenterprisesintheircountry.Intheprocessofgrowthanddevelopmentofsmallandmedium-sizedenterprisesinChina,duetointernalfactorsofsmallandmedium-sizedenterprises,aswellastheexternalenvironmentof“marketfailure”,therearestillmanyrestrictivefactorsinthedevelopmentofsmallandmedium-sizedenterprises.AsChina’sfinancialpolicywhichsupportthedevelopmentofsmallandmedium-sizedenterprisesisnotperfectandtherearefewresearchresultsonsupportingthefinancialpolicysystemofsmallandmedium-sizedenterprises,itistheoreticalandpracticalsignificanceinthenewperiodtostudyandexploretheregularityofthedevelopmentmechanismofsmallandmedium-sizedenterprisesinourcountryandtoquoteforeignadvancedfinancialpoliciestopromotetheirhealthygrowth.Basedontheadvancedexperienceofforeigncountriesandthespecificnationalconditionsofourcountry,thispaperputsforwardtheoverallframeworkoffiscalpolicytosupportthedevelopmentofsmallandmedium-sizedenterprisesinChina.Itprovidestheoreticalguidanceforperfectingthecurrentfinancialpolicyofsmallandmedium-sizedenterprisesinourcountry，andmakesthesepolicysuggestionshavecertainpracticalreferencevalue.

Keywords:

Smallandmedium-sizedenterprises;SupportingPolicy;ForeignGovernment

Outline

ThesisStatement:

TheSupportingPoliciesofDevelopedCountriesontheFinancingofSmallandMediumEnterprises

Ⅰ.IntroductiontotheSmallandMedium-sizedEnterprisesandTheirFinancing

A.BasicConcepts

B.TheRolesofSmallandMedium-sizedEnterpriseinSocialandEconomicDevelopment

C.TheFinancingPatternsofSmallandMedium-sizedEnterprises

Ⅱ.TheCausesoftheEnterprises’FinancingPredicament

A.TheEnterprises’OwnDeficiencies

1.LackofManagementSystem

2.LackofFinancialRegulations

3.LackofCreditSystem

B.DefectiveSupportingPoliciesoftheGovernment

1.LackofLawsonCreditGuarantee

2.LackofClearandLegalBasisBetweenEnterprises

.SuccessfulSupportingPoliciesofDevelopedCountries

A.SupportingPoliciesoftheUnitedStates

B.SupportingPoliciesofGermany

C.SupportingPoliciesofJapan

D.SupportingPoliciesofKorea

.EnlightenmentofForeignGovernment’sSupportingPoliciesforSmallandMedium-sizedEnterprises

A.Market-basedSupportMode

B.ImproveRelevantSupervisionSystem

C.SupportingPolicyforScience,Technology,InnovationandEmployment

.Conclusion

TheSupportingPoliciesofDevelopedCountriesontheFinancingofSmallandMediumEnterprises

Ⅰ.IntroductiontotheSmallandMedium-sizedEnterprisesandTheir

Financing

A.BasicConcepts

Asthestandardofdivisionofsmallandmedium-sizedenterprisesisconstantlychanging,therelevantdepartmentshadbeenadjustedtheconceptofsmallandmedium-sizedenterpriseforsixtimes.Eachadjustmentnotonlyhelpedpeopletorecognizethemaincharacterofsmallandmedium-sizedenterprisesbutalsolaidasolidfoundationforthespecificcriterion.Fromtheinitialdivisionthatbasedonthenumberofworkerstothelatestpartitionthatismorecomprehensive,wecanseethattheadvancementofournationaleconomy.Besides,wealsofindthediversityandcomplexityofsmallandmedium-sizedenterprisesinournation,whichcoincidewithChineseeconomicdevelopmentclimatethatchangesfromcentralplanningtomarketeconomy.Therefore,thecriterionofsmallandmedium-sizedenterprisesshouldbeenhanced.Inrecentyears,theMinistryofIndustryandInformationTechnologytheNationalBureauofStatistics,theNationalDevelopmentandReformCommission,andtheMinistryofFinancehavestudiedandpublishedtheRegulationsontheStandardizationofSmallandMedium-sizedEnterprises.Owingtothefactthatourspecificnationalcondition,themarketeconomyisstillundeveloped,sothatthedivisionofsmallandmedium-sizedenterprisesthatbasedonindustry’ssub-divisionwillbemoreunderstandableandreasonable.Ontheotherhand,figuresreleasedbytherelevantinstitutiontellthataccordingtothenumberofemployeesorthesalesorthetotalamountofassetssmallandmedium-sizedenterprisesinourcountryarethecornerstoneofthenationaleconomyandsocialdevelopment,whichabsorb3/4oftheindustriallaborforce,solvingthemassivelaborforcebothfromurbanandrural.That'swhypeopleconsiderthesmallandmedium-sizedenterprisesasthebackbonefornationaleconomyandsocialdevelopment.Apartfromcertainindustry,suchasconstructionbusiness,miningindustry,otherindustrieswillnolongerneedtobelisted.Asresult,numerousenterprisesmeetthestandardsandbeconsiderassmallandmedium-sizedenterprises.

B.TheRolesofSmallandMedium-sizedEnterpriseinSocialandEconomicDevelopment

Thenumberofsmallandmedium-sizedenterprisesisdominant,sothatwhetherinthedevelopedanddevelopingcountry,thestatueofsmallandmedium-sizedenterprisesisveryimportant.Evidently,withtherapidadvancementofpeople'sincome,thetotalcontributionrateofemploymentofsmallandmedium-sizedenterpriseisexpectedtosoar.Accordingtotheassociatedstatistic,therateindevelopingcountriesisabout17.5%and57.25%inthedevelopedcounties.Furthermore,thetotalcontributionrateofGDPisalsoincreasing,whichis15.56%indevelopingcountriesand51.54%indevelopedcountries.

In1958,Stieglerpublished“economiesofscale”,puttingforwardtheconceptofoptimalsizeofanenterprise,denyingtheviewthatthelargertheenterpriseis,themoreefficientitis.Viaempiricalresearch,Stieglerpointsoutthatifallenterprisesinanindustryusethesameresources,thelong-termcostcurveisonlythelowestpoint,whichmeansthatthereisonlyonescaleofoutputiseconomic.Asamatteroffact,however,theresourcesthatownedbytheenterprisecannoteitherbehomogeneous,norcantheefficiencyofresourceutilizationbeidentical,sothatthetopgallantsizeisnottheonlyone.Therefore,Steiglerpointsoutthatthesizeofacompanythatsurvivesinlong-termcompetitionissuperiorthanthatothers.Thisindicatethatsmallandmedium-sizedenterprisesdonotneedtoenvylargeenterprisesiftheygetintotheconditionsofsurvive.

Thankstothesmallscale,thesmallandmedium-sizedenterpriseshavethebeneficialenterprisereform.Comparedwithtransnationalcompanies,theycanreformthemselveswithlowcostandminimumsocialimpact.Thereformpracticeofsmallandmedium-sizedenterpriseshasprovidedrichexperiencefortheestablishmentofsocialistmarketeconomysysteminourcountry,meanwhile,theadvancementandexpansionofthesmallandmedium-sizedenterpriseshavemadethemajorelementsofthemarketmorediversified,whichpromotedthereformofthestate-ownedenterprisesandtheextinctionofthemonopolyindustryinourcountry.Besides,itisbenefitstocreateadynamicmarketeconomyenvironment.Asmostofthesmallandmedium-sizedenterprisesinourcountryarelocatedattheedgeofthecitywhichistheareaofthecombinationofurbanandruralareas,sothatthesmallandmedium-sizedenterprisesplayacruciallinkbetweenthecomplementaryandcoordinateddevelopmentofurbanandruraleconomy.Theyarethecradleoflarge-scaleenterprisesandgroups,andmanylarge-scale,successfulenterprisesareimportantpartnersintheindustrialchainoflarge-scaleenterprises,whichcomefromthegradualgrowthofsmallandmedium-sizedenterprises.Centralizingresourcestoenhancescientificandtechnologicalinnovationandcorecompetitiveness,therebyenhancingtheoveralleconomicgrowthlevelofthecountry.

C.TheFinancingPatternsofSmallandMedium-sizedEnterprises

Theso-calledfinancingstructureusuallyreferstotheorganicstructureofthefundsborrowedbyenterprisesthroughdifferentchannelsandtheproportionofvariouscapitalfundsinthetotalfinancingwhenobtainingthesourceoffunds.Beforetheend,themainfinancingmodelsintheworldcanbeclassifiedintotwodifferenttypes:

oneisthebank-ledfinancingmodel,mainlyrepresentedbyGermanyandJapan.Thecharacteristicsofthisfinancingmodelisthatenterprisesborrowmoneyfrombankstofinance.Anotheristhemarket-ledfinancingmodel,whichismainlyrepresentedbytheUnitedStatesandBritain.Itsmainfeatureisthatenterprisesraisemoneythroughcapitalmarkets,suchasissuingstocksorbonds.Thefinancingdifficultiesofsmallandmedium-sizedenterprisesareobvious,andmostofthemlackeconomiesofscaleandlackofcompetitionfrommarket.Accordingtosomesurveys,thefinancingorderofthemajorprivateenterprisesinourcountryisroughlyenterpriseaccumulation,bankorcreditunionloans,relativesandfriends