To resolve the problems of difficult and expensive financing for small and micro enterprises, it is necessary not only to use market mechanisms to adjust, but also to need appropriate government intervention and support. The "two hands" can effectively combine to promote the financing of small and micro enterprises.On the one hand, establish a mechanism compatible with incentives and constraints, consolidate the endogenous power of serving small and micro enterprises, and realize the transformation from "I want to do it" to "I want to do it"; on the other hand, give full play to the role of government financing guarantees and guide more financial Resources flow to small and micro enterprises.
At present, under the influence of a series of unexpected factors, it is very difficult for the majority of market players, especially small and micro enterprises.Increasing financial support for small and micro enterprises is an important aspect of helping enterprises in their development. A number of measures have been introduced recently.To solve the worldwide problem of difficult and expensive financing for small and micro enterprises, we should focus on the "hand of the government" and the "hand of the market" to jointly improve the quality and efficiency of financial services for small and micro enterprises, so that the majority of small and micro enterprises can truly benefit.
The problems of difficult and expensive financing for small and micro enterprises are universal and inevitable. The main reason is that the development of small and micro enterprises is relatively fragile and the financing information is asymmetric, which inevitably leads to an increase in financing costs.The impact of the new crown pneumonia epidemic has made production and operation of small and micro enterprises difficult, and financial institutions are more "fearful" and "reluctant to borrow", and small and micro financing services are facing challenges.Capital is an important factor of production and should be allocated by the market mechanism, but the particularity of small and micro enterprises determines that the market alone cannot effectively solve the financing problem.To resolve this contradiction, it is necessary not only to use the market mechanism to adjust, but also to need appropriate government intervention and support. The "two hands" can effectively combine to promote the financing of small and micro enterprises.
On the one hand, establish a mechanism compatible with incentives and constraints, consolidate the endogenous power of serving small and micro enterprises, and realize the transformation from "I want to do it" to "I want to do it".Recently, the central bank issued a document to promote the establishment of a long-term mechanism for financial services for small and micro enterprises who dare to lend, willing to lend, and will lend, which fully reflects the principle of compatibility between incentives and constraints.For example, improve fault-tolerant arrangements and risk mitigation mechanisms, enhance confidence in daring to lend, strengthen positive incentives and assessments, stimulate willingness to lend, and so on.Only by comprehensively building a long-term mechanism of dare to loan, willing to loan, able to loan, and meeting loan can we achieve affordable cost and business sustainability, promote small and micro enterprises' financing increment, expand coverage, and reduce prices, and make small and micro financial services more efficient. Evergreen.
On the other hand, give full play to the role of government financing guarantees to help solve the problems of small and micro enterprises with less mortgage assets, insufficient credit records, and information asymmetry, and guide more financial resources to flow to small and micro enterprises.The State Council has made it clear that the scale of the newly-added national financing guarantee fund re-guarantee cooperation business this year will exceed 1 trillion yuan.In addition, government financing guarantee institutions are encouraged to provide financing guarantee support for eligible small and medium-sized enterprises in the transportation, catering, accommodation, and tourism industries, as well as individual industrial and commercial households.Government financing guarantee institutions shall perform their compensatory obligations in a timely manner, promote financial institutions to lend as soon as possible, and do not blindly withdraw, suppress or cut off loans.It can be said that the government financing guarantee system can effectively play the role of “four liang” of fiscal funds.
It is worth noting that the National Financing Guarantee Fund does not directly provide guarantees for small and micro enterprises in terms of business methods, but follows the operation mode of "policy-oriented, market-oriented operation, and professional management", mainly adopting re-guarantee and equity investment methods. , conduct business with provincial re-guarantee companies, and support guarantee institutions in various provinces to provide loan guarantees for eligible small and micro enterprises.
The Hand of the Government also reflects direct support for financing guarantees.For example, the central government has implemented a policy of reward and subsidy for the reduction of financing guarantee fees for small and micro enterprises, supporting financing guarantee institutions to expand the scale of financing guarantee business for small and micro enterprises, and reducing financing guarantee rates; Periodic subsidy.Through these support measures, we can make up for market defects and deficiencies, change the status quo of "small, scattered, weak" and high-cost financing guarantee institutions, promote the development of the financing guarantee industry, reduce the cost of financing guarantees, and effectively benefit small and micro enterprises.
The production and operation of the majority of small and micro enterprises are facing financing problems, and there are other difficulties, which require the joint support of fiscal, monetary, financial and other policies.For example, tax and fee reductions are implemented to reduce production costs, and government procurement support is increased to increase market opportunities.At present, a package of policy measures has been introduced, and the key is to implement it quickly, especially to improve directness, accuracy, and effectiveness, so as to play the role of "delivering charcoal in the snow" and "timely rain".With the continuous efforts of the policy, coupled with the persistence and unremitting efforts of enterprises, the majority of market players will surely be able to tide over the difficulties and rejuvenate.
【Editor: Shi Rui】
