SMEs Financing: The Constraints
The competence for SMEs to accomplish their potential in a country largely depends on the accessibility of finance. In the main finance and specifically credit is above all vital for
On the other hand, there are studies that examine the firm traits such as legal status and financial distinctiveness to examine the factors of financing SMEs. From the literature it appears that, studies are rare when it comes to examining the financing of SMEs from entrepreneurial, financial, regulatory and other perspectives. Therefore, this study focuses on these factors or determinants of financing SMEs in China.
Access to and cost of finance is generally ranked as one of most holding back aspect of the industry environment by SMEs. Beck and Aslı ( 2006) in their study find that, particularly the cost of finance is rated by over 35 percent of SMEs as most important expansion constraint typically in developing economies, more than any other attribute of the industry environment, comprising tax rates and macroeconomic volatility, as well rated by numerous SMEs as main growth constraints. Access to finance is rated as foremost constraint by approximately 30 percent of SMEs, a comparable amount as economic policy improbability and corruption. On the other hand, they find that financing is one of the several features of the industry environment that simultaneously with crime and political flux is strongly related to firm growth, even as other aspects have at most a roundabout effect on SMEs success and development . Further they find that the high financing constraints documented by SMEs comparing to big sized firms are too reflected in financing models.
中小企业融资的约束：
中小企业在一个国家实现其潜在的能力在很大程度上取决于金融的可达性。在主要的金融和专门的信用首先是至关重要的
另一方面，有研究的公司特征如法律地位和金融性研究中小企业融资影响因素的研究。从文献显示，研究较少的时候，对创业企业融资，财务，管理和其他方面的。因此，本研究的重点是这些因素或决定因素在中国中小企业融资。
访问和融资成本一般是列为中小企业的大多数阻碍方面的行业环境中的一个。贝克和ASLı（2006）在他们的研究中发现，特别是融资成本是被典型的发展中经济体在中小企业作为最重要的扩展约束百分之35，超过任何其他属性的产业环境，包括税收和宏观经济的波动，由众多中小企业为主要增长因素好评。获得资金是最重要的约束为约百分之30的中小企业，数量相当的经济政策不可能与腐败。另一方面，他们发现，融资是一种犯罪和政治上的变迁，同时是企业成长密切相关的产业环境的若干特征，即使在最间接的影响中小企业成功与发展的其他方面。而且他们发现，高融资约束记录的中小企业与大型企业也反映在融资模式
