Why is financing difficult and expensive for enterprises now?

This is the answer given by the general manager of a consulting company in the interview.

From the external factors, there are defects in the development of China's financial system, the products and services system of SME financing is not perfect, and the government's design of financing support for SMEs at the legal and institutional levels is not enough. In developed market economy countries, government agencies attach great importance to and participate in the financing of small and medium-sized enterprises, and there are many experiences for us to learn from. We will make a series of stones from other mountains. In an underdeveloped financial system, the fund provider is usually the strong party in the supply relationship, and can set the threshold and choose business according to their own risk preferences. When faced with the financing needs of small and medium-sized enterprises, the capital channel is often ridiculed as only doing icing on the cake, not doing the work of giving timely help.

Although there have been many innovative financing products for small and medium-sized enterprises in recent years, in practice, we have seen such a situation: when designing financing products, fund providers usually only pay attention to risk control, but not to service; In the process of enterprise financing application, only the threshold is provided, but no help is provided. The financing process of enterprises is always crossing the river by feeling the stones. Regardless of traditional institutions or innovative channels, the application failed or even succeeded in financing. The final product still makes the enterprise confused. Therefore, most financing channels and financing innovations are unknown to SMEs.

From the problems existing in small and medium-sized enterprises, the corporate self-care structure is imperfect, lacking long-term planning and goals, short-sighted decision-making and weak management ability, resulting in weak anti-risk ability and short life cycle; The enterprise's own behavior is improper, many small and medium-sized enterprises have not established a sound financial system, some have set up several sets of accounts, and some have not even established accounting accounts. The fund management is chaotic, and the financing is not used and repaid as agreed, which leads to the low credit level of enterprises. As the main body of financing, enterprises have low transparency and many uncertain factors. Information asymmetry inhibits the willingness of fund providers to lend, which leads to financing difficulties for SMEs. In order to reduce risks and increase financing costs, fund providers have caused expensive financing to some extent.