Analyze what kind of financing methods enterprises should adopt at different stages of the economic cycle.

Based on the different internal and external environments faced by enterprises in different stages of their life cycle, different financial goals should be adopted, as follows: the strategic goal of enterprises in the initial stage is to survive, and the focus of enterprises is how to gain a firm foothold in the market. The financial management goal at this stage should be to maximize sales. First of all, the amount of sales affects the financing ability of enterprises. Loans from banks and other financial institutions to enterprises mainly depend on the sales of enterprises. The greater the sales, the higher the market share and the stronger the competitive position of enterprises, the more willing financial institutions such as banks are to lend to enterprises. Secondly, most enterprises in the initial planning period are in a state of loss, and the key to turning losses into profits is to expand sales. At this stage, enterprises should take production strategy as the focus of strategic management, and obtain the funds needed for enterprise growth by rapidly expanding enterprise sales, thus reducing the business risks of enterprises and laying a good foundation for their survival and development. Therefore, start-ups should take the maximization of sales as their financial management goal. The strategic goal of growing enterprises is to develop and expand, and the main task of enterprises is to expand market share, obtain profits and enhance their competitiveness. At this stage, the goal of enterprise financial management should be to maximize profits on the basis of expanding sales. Although the cash flow of growing enterprises is more abundant than that of initial stage, the increase of sales and other expenses will still make the cash flow of enterprises unable to make ends meet. If the enterprise pursues the maximization of sales as in the initial stage, or even exchanges sales at the expense of losses, it is doomed to bankruptcy. Therefore, enterprises should pay attention to marketing strategy, closely monitor the profit changes of enterprises, predict and plan market share according to product sales profit, pay attention to the control of enterprise costs and expenses, and realize profits on the basis of maximizing sales at the initial stage to ensure subsequent development. The strategic goal of mature enterprises is to consolidate and improve, and the main task of enterprises is to innovate constantly and realize the "second venture" of enterprises, so as to enter the second life curve and prolong the life of enterprises as much as possible. At present, the goal of financial management should be to maximize enterprise value and social responsibility. At this stage, the focus of enterprise management is how to coordinate the interests between enterprises and society, stakeholders and internal departments while continuing to expand market share and develop new technologies and new products, so as to prepare for the transformation of enterprises. At the same time, on the one hand, mature enterprises should pay attention to technological innovation and investment and development of new products, replace old products in time, occupy the market, expand business channels and realize diversified competition strategies, but they should prevent blind investment and survival crisis. On the other hand, mature enterprises, while creating profits and being responsible for shareholders' interests, should also actively undertake the responsibilities to society, environment and other stakeholders other than shareholders, such as observing business ethics, safe production, occupational health, protecting the legitimate rights and interests of workers, protecting the environment, supporting charities, donating social welfare and protecting vulnerable groups. , so as to establish a good social image, enhance the development potential of enterprises and delay the arrival of recession. Therefore, the financial management goal of mature enterprises should be to maximize enterprise value and social responsibility. The strategic goal of declining enterprises is to maintain and transform, and the fundamental task of enterprises is to guard against financial crisis and strive for new survival and development space. The financial management goal at this stage should be to maximize the net cash flow. Whether an enterprise has development potential has a lot to do with profit, but it mainly depends on whether the enterprise has enough cash flow to meet all expenses. To some extent, the size of net cash flow determines the survival and development of an enterprise. At this stage, the focus of enterprise financial management is how to recover funds as soon as possible, make rational use of funds, realize target transfer and turn to new investment points, that is, shrink positions and transfer to the battlefield. On the one hand, enterprises should strictly control costs and expenses, strive to cut various expenses, actively predict the cash flow of enterprises and control the cash outflow of enterprises; On the other hand, enterprises should maximize the value of reorganization, actively carry out technological transformation, improve management and improve the comprehensive ability of enterprises as much as possible, so as to maintain and revitalize enterprises, realize strategic transformation and extend their life cycle. Therefore, at this stage, enterprises should take the maximization of net cash flow as the financial management goal during the recession.