浅析发达国家对中小企业融资的政策扶持-商务英语.doc

毕业设计（论文）说明书题目：The Supporting Policies of Developed Countries on the Financing of Small and Medium Enterprises浅析发达国家对中小企业融资的政策扶持系 名 文学与法学系 专 业 商务英语专业 学 号 6015206177 学生姓名 李曦雯 指导教师 姚立佳 2019年 6月12日AbstractSmall and medium-sized enterprises are not only an important part of the national economy and play a strategic role in the economic development of China but also in other countries around the world. Economists all over the world generally believe that small and medium-sized enterprises will be the main driving force of economic development in the century. Viewed from a certain angle we can see that the process of world economic development, many small and medium-sized enterprises around the world have exposed some deep-seated problems in their growth. What surprised us is that the technological level is backward, the labor productivity is low, and the market competitiveness is relatively weak. Governments have adopted a series of fiscal and other supporting policies to promote the growth and development of small and medium-sized enterprises in their country. In the process of growth and development of small and medium-sized enterprises in China, due to internal factors of small and medium-sized enterprises, as well as the external environment of “market failure”, there are still many restrictive factors in the development of small and medium-sized enterprises. As Chinas financial policy which support the development of small and medium-sized enterprises is not perfect and there are few research results on supporting the financial policy system of small and medium-sized enterprises, it is theoretical and practical significance in the new period to study and explore the regularity of the development mechanism of small and medium-sized enterprises in our country and to quote foreign advanced financial policies to promote their healthy growth. Based on the advanced experience of foreign countries and the specific national conditions of our country, this paper puts forward the overall framework of fiscal policy to support the development of small and medium-sized enterprises in China. It provides theoretical guidance for perfecting the current financial policy of small and medium-sized enterprises in our country，and makes these policy suggestions have certain practical reference value.Key words: Small and medium-sized enterprises; Supporting Policy; Foreign GovernmentOutlineThesis Statement: The Supporting Policies of Developed Countries on the Financing of Small and Medium Enterprises. Introduction to the Small and Medium-sized Enterprises and Their FinancingA. Basic Concepts B. The Roles of Small and Medium-sized Enterprise in Social and Economic Development C. The Financing Patterns of Small and Medium-sized Enterprises. The Causes of the Enterprises Financing Predicament A. The Enterprises Own Deficiencies 1. Lack of Management System 2. Lack of Financial Regulations3. Lack of Credit SystemB. Defective Supporting Policies of the Government 1. Lack of Laws on Credit Guarantee 2. Lack of Clear and Legal Basis Between EnterprisesIII. Successful Supporting Policies of Developed CountriesA. Supporting Policies of the United StatesB. Supporting Policies of GermanyC. Supporting Policies of JapanD. Supporting Policies of KoreaIV. Enlightenment of Foreign Governments Supporting Policies for Small and Medium-sized EnterprisesA. Market-based Support ModeB. Improve Relevant Supervision SystemC. Supporting Policy for Science, Technology, Innovation and EmploymentV. Conclusion天津大学仁爱学院2015届本科生毕业设计（论文）The Supporting Policies of Developed Countries on the Financing of Small and Medium Enterprises. Introduction to the Small and Medium-sized Enterprises and TheirFinancingA. Basic Concepts As the standard of division of small and medium-sized enterprises is constantly changing, the relevant departments had been adjusted the concept of small and medium-sized enterprise for six times. Each adjustment not only helped people to recognize the main character of small and medium-sized enterprises but also laid a solid foundation for the specific criterion. From the initial division that based on the number of workers to the latest partition that is more comprehensive, we can see that the advancement of our national economy. Besides, we also find the diversity and complexity of small and medium-sized enterprises in our nation, which coincide with Chinese economic development climate that changes from central planning to market economy. Therefore, the criterion of small and medium-sized enterprises should be enhanced. In recent years, the Ministry of Industry and Information Technology the National Bureau of Statistics, the National Development and Reform Commission, and the Ministry of Finance have studied and published the Regulations on the Standardization of Small and Medium-sized Enterprises. Owing to the fact that our specific national condition, the market economy is still undeveloped, so that the division of small and medium- sized enterprises that based on industry s sub-division will be more understandable and reasonable. On the other hand, figures released by the relevant institution tell that according to the number of employees or the sales or the total amount of assets small and medium-sized enterprises in our country are the cornerstone of the national economy and social development, which absorb 3/4 of the industrial labor force, solving the massive labor force both from urban and rural. That's why people consider the small and medium-sized enterprises as the backbone for national economy and social development. Apart from certain industry, such as construction business, mining industry, other industries will no longer need to be listed. As result, numerous enterprises meet the standards and be consider as small and medium-sized enterprises. B. The Roles of Small and Medium-sized Enterprise in Social and Economic DevelopmentThe number of small and medium- sized enterprises is dominant, so that whether in the developed and developing country, the statue of small and medium-sized enterprises is very important. Evidently, with the rapid advancement of people's income, the total contribution rate of employment of small and medium-sized enterprise is expected to soar. According to the associated statistic, the rate in developing countries is about 17.5% and 57.25% in the developed counties. Furthermore, the total contribution rate of GDP is also increasing, which is 15.56% in developing countries and 51.54% in developed countries.In 1958, Stiegler published “economies of scale”, putting forward the concept of optimal size of an enterprise, denying the view that the larger the enterprise is, the more efficient it is. Via empirical research, Stiegler points out that if all enterprises in an industry use the same resources, the long-term cost curve is only the lowest point, which means that there is only one scale of output is economic. As a matter of fact, however, the resources that owned by the enterprise cannot either be homogeneous, nor can the efficiency of resource utilization be identical, so that the topgallant size is not the only one. Therefore, Steigler points out that the size of a company that survives in long-term competition is superior than that others. This indicate that small and medium-sized enterprises do not need to envy large enterprises if they get into the conditions of survive.Thanks to the small scale, the small and medium-sized enterprises have the beneficial enterprise reform. Compared with transnational companies, they can reform themselves with low cost and minimum social impact. The reform practice of small and medium-sized enterprises has provided rich experience for the establishment of socialist market economy system in our country, meanwhile, the advancement and expansion of the small and medium-sized enterprises have made the major elements of the market more diversified, which promoted the reform of the state-owned enterprises and the extinction of the monopoly industry in our country. Besides, it is benefits to create a dynamic market economy environment. As most of the small and medium-sized enterprises in our country are located at the edge of the city which is the area of the combination of urban and rural areas, so that the small and medium-sized enterprises play a crucial link between the complementary and coordinated development of urban and rural economy. They are the cradle of large-scale enterprises and groups, and many large-scale, successful enterprises are important partners in the industrial chain of large-scale enterprises, which come from the gradual growth of small and medium-sized enterprises. Centralizing resources to enhance scientific and technological innovation and core competitiveness, thereby enhancing the overall economic growth level of the country.C. The Financing Patterns of Small and Medium-sized EnterprisesThe so-called financing structure usually refers to the organic structure of the funds borrowed by enterprises through different channels and the proportion of various capital funds in the total financing when obtaining the source of funds. Before the end, the main financing models in the world can be classified into two different types: one is the bank-led financing model, mainly represented by Germany and Japan. The characteristics of this financing model is that enterprises borrow money from banks to finance. Another is the market-led financing model, which is mainly represented by the United States and Britain. Its main feature is that enterprises raise money through capital markets, such as issuing stocks or bonds. The financing difficulties of small and medium-sized enterprises are obvious, and most of them lack economies of scale and lack of competition from market. According to some surveys, the financing order of the major private enterprises in our country is roughly enterprise accumulation, bank or credit union loans, relatives and friends raising funds, inter-citizen loans and so on. Besides, our national financing structure of small and medium-sized enterprises has bright institutional characteristics, mainly in the following aspects:(1). Financing through your own internal sources. Internal finance means the amount of capital that a company needs to circulate around the world, that is, the capital generated by the results of its business activities. The company does not convert its savings into investment funds in the course of development and operation, mainly through the depreciation of the company itself or the retained earnings not determined by the company, so as to obtain the capital required for circulation and turnover. The company's own savings are the company's fixed liabilities, retained earnings, depreciation, etc. in the course of business. Internal financing has the following distinctive features in the corporate financing process: self-principle, originality, risk resistance, and low cost. Small and medium-sized enterprises play an increasingly important role in our national economic development of the whole country. However, the financing mode of medium-and small-sized enterprises has always been one of the questions that hinder the development of enterprises. Thus, the small and medium-sized enterprises not gain any benefits in recent years.(2). Indirect financing through bank loans. The advantage of bank loan financing is that it is convenient and flexible, the choice of term limit and the type of loan are many, but the disadvantage is that it is more difficult to apply for the loan, and the limit of the fund limit for applying for loan is limited. The management of bank loan financing is relatively simple, but for small and medium-sized enterprises, the application process is more complicated. Financing through bank loans generally does not involve the transfer of ownership of enterprise property, but once the bank stops lending because the enterprise is unable to repay the loan, it is possible to put the enterprise into a difficult situation. Eventually it will lead enterprises to the bankrupt. At this stage, a very common way of financing small and medium-sized enterprises is that they must borrow money from banks, because of its convenient. Through direct multifaceted contact with banks, firms can negotiate with each other to determine the amount, time and interest rate of borrowing. . The Causes of the Enterprises Financing PredicamentA. The Enterprises Own Deficiencies1. Lack of Management SystemThe excellent enterprise is not only through technology, but also through management to get the first-mover advantage. Thanks to the economic globalization, there are increasingly more enterprises that are aware of the importance of management in an organization. Peter Drucker, a master of management, once mentioned that in the century, the lifespan of small and medium-sized enterprises achieved by management. Therefore, what is the status quo of the imperfect management system which leads to the difficulty of financing for small and medium-sized enterprises in China? According to the results of the survey conducted by the National Development and Reform Commission and the Research Department of the China Enterprise Federation on the management of small and medium-sized enterprises in our country, the management system of small and medium-sized enterprises in our country is mainly reflected in the following aspects: Weak management links in small and medium-sized enterprises, lack of modern management methods, and lack of comprehensive information management methods.Firstly, the survey results show that the standards of work and safety management of small and medium-sized enterprises are perfect, while the other basic management links are still relatively weak. Only 27% of small and medium-sized enterprises have established a clearly defined post responsibility system, and 52% of enterprises have basically formulated various post rules. Other enterprises, however, do not have a definite post responsibility system at all. It is known to all that a clear post responsibility system can regulate the work behavior of employees in enterprises, and all employees will have their own duties, and their work efficiency will also be improved. What is worrying is that about 40% of the small and medium-sized enterprises main system is only a theory, and institutionalized management is impossible to consider about it. So that's why it is also the most prominent of the many questions. Concerning all the details mentioned above, there is every reason to believe that whether the management ability can be strong or not has become the most important factor restricting the development of the enterprise. Having a glimpse of excellent ente