Capital is the core resource to ensure the smooth development of enterprise production and operation activities, and financing is an important channel for enterprises to obtain funds, which is backed by enterprise assets and future development prospects, and through various financial transactions, it is supported by investors. Financing ability is an important indicator to measure the market competitiveness of modern enterprises, improve the financing management ability of enterprises, raise funds for enterprises to meet the actual development needs at the same time, but also reduce financing costs and risks, is an important problem that enterprise managers need to solve.

With the promulgation and revision of relevant policies, laws and regulations, the corporate financing standards have undergone great changes, and at the same time, the market competition faced by enterprises has become increasingly intensified, which has put forward higher challenges to the financing management of enterprises.

◆ Give full play to the important role of small and medium-sized banks

China is carrying out a series of institutional reforms, including the reform of the financial mechanism, and accelerating the reform of the financial mechanism, relaxing the financing restrictions of banks on enterprises, actively integrating private capital and idle funds of the society, and strengthening the construction of the information disclosure system can effectively reduce the financing threshold of enterprises, promote the sustainable and healthy development of enterprises, and promote the steady growth of the national economy.

Give full play to the role of all kinds of small and medium-sized banks, including local banks. The main customers of small and medium-sized banks are households, individual entrepreneurs and small and medium-sized enterprises. In the process of serving customers of small and medium-sized banks, service personnel should fully collect relevant information of financing enterprises, prevent the occurrence of concealment and false reporting of data, improve the security of financing, and effectively control financing risks.

Supporting and encouraging the sustainable and stable development of small and medium-sized banks will give a strong impetus to the construction and improvement of the private financial market. For a long time, the financing channels of small and medium-sized enterprises in China are limited, and in order to get financial support, they often raise funds through private financial channels. At the same time, the large scale of small and medium-sized enterprises and the strong demand for financing have enabled the rapid development of the private financial market. However, there is a regulatory gap in the private financial market, and financing risks cannot be effectively controlled, because there are countless negative social events caused by financing disputes. Supporting the development of small and medium-sized banks, so that households, individual businesses and small and medium-sized enterprises can complete financing through formal banking channels, can play a positive role in promoting the development and improvement of the private financial market.

◆ Actively open up direct financing channels

For a long time, the proportion of direct financing of Chinese enterprises is relatively low, and they have a high dependence on indirect financing, especially bank loans, and the limited financing channels have led to many problems such as low financing amount and financing efficiency, high financing costs and financing risks, and banking institutions have to bear high financing risks. Although in recent years, some companies have begun to raise funds through the stock market, the proportion of equity financing is far from the expected level.

The imperfection of the securities market is the main reason for its lagging development. In the United States, where the securities market is highly mature, the proportion of securities financing is significantly higher than that of stock financing, while the scale of stock financing in China is about three times that of securities financing.

Therefore, supporting the development of the securities market, relaxing the restrictions on enterprise securities financing, and broadening the financing channels of enterprises can not only improve the securities market, but also help optimize the financing structure of enterprises. In addition, for enterprises with low asset-liability ratios, they are more inclined to raise funds through the issuance of corporate bonds, optimize the asset-liability structure of enterprises, improve financial leverage, and promote rapid expansion of enterprises.

◆Enhance cost and risk awareness

(1) Scientifically grasp the supply and demand of market funds, establish cost awareness, correctly understand the impact of different financing methods on financing costs and financing amounts, and effectively control financing costs.

(2) On the basis of the analysis of various financing methods such as direct financing, indirect financing, and hybrid financing, formulate a financing strategy that is truly suitable for the enterprise.

(3) Flexible choice of financing method is an important indicator for enterprises to improve risk awareness and have strong risk management capabilities. There is no doubt that companies face different risks depending on how to raise money.

For example, an equity financing enterprise can obtain permanent funds without having to repay principal and interest, but it will dilute the control of the original investor over the enterprise; Debt financing requires the enterprise to repay the principal and interest on a regular basis, but does not dilute the control of the original investors over the enterprise. In addition, even if the same financing method is chosen, the financing risks faced by enterprises at different stages of development are different. Therefore, the improvement of the financing management level and ability of enterprises should be based on improving the cost and risk awareness of enterprises.