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Financial management of SMEs in China Problems and Countermeasures

Financial management of SMEs in China Problems and

Countermeasures

Abstract:due to their own national policies and corporate aspects of Financial Management of SMEs in the main fund-raising channels exist narrow and seriously underfunded,the operator awareness of weak financial management,corporate Financial Accounting system is not perfect and so on.In order to better play the role of SMEs,the author recommends that the state has adopted relevant policies,expand financing channels,strict financial management,strengthening of external supervision,the introduction of the ranks of professional managers and other measures to improve the management level of SMEs.

Keywords:small and medium enterprises;financial management;problems;countermeasure

In December2005,the National Development and Reform Commission issued the"SME Growth Project"report on the work that small and medium enterprises in China now has4240 million,accounting for99.6%of enterprises,SMEs accounted for sales of total sales of all enterprises58.9%,the value of final goods and services accounted for58%of the national GDP, tax revenue accounts for about48%of patents account for66%of patents,new products accounted for82%of all new products to address the urban employment accounted for a net increase of employment of75%.However,the output of small-scale,lower capital and technology, as well as the traditional structure and composition of external macro-economics,the impact on SMEs,making the status of the Financial Management of SMEs in China is not optimistic. Strengthen the Financial Management of SMEs imminent.

First,define the criteria for SMEs

Promulgated in2002,"SME Promotion Law of The People's Republic of China"(hereinafter referred to as the"SME Promotion Law")that:small and medium enterprises is established by Law in the PRC,that are conducive to meet the social needs,increasing employment,in line with the national industrial policy,small and medium-scale production and operation of various ownership and various forms of business.SME definition of what is available from both theoretical and practical aspects to consider:

(A)Theoretical standard

Theory to define standards for SMEs should be based on competitive benchmark.The competitiveness of enterprises can be divided into resources,ability to obtain,using three levels of ability and Development capabilities.Three levels of ability to contribute to the competitiveness of the weight should be in ascending order.

(B)standards of practice

Standards of practice by policy-level criteria were divided into macro-policy and sectoral policy standards.The former is to define standards for small and medium enterprises,which is the classification criteria for SMEs.In practice,SMEs need to define the standard reference of choice,

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