Advances in Economics, Management and Political Sciences
- The Open Access Proceedings Series for Conferences
Proceedings of the 6th International Conference on Economic Management and Green Development (ICEMGD 2022), Part Ⅱ
Series Vol. 4 , 21 March 2023
Open
Access | Article
The Solution Strategies of Financing Constraint Predicament of Digitalized Empowerment of Micro-, Small and Medium-sized Enterprises
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Abstract
Micro-, small and medium-sized enterprises (MSMEs) have been an important part of our country's economy for many years. However, their survival and development are always affected by the phenomenon of financing constraints, which has resulted in non-negligible consequences for the development of the national economy. This paper utilizes with a large amount of data and information, and uses the method of induction and deduction to summarize the reasons for the financing constraint phenomenon from three levels, and puts forward corresponding solutions for different levels. The causes of financing constraints are divided into three levels. First, at the micro level, MSMEs cannot meet the expectations of investors and the requirements of mortgage loans. Secondly, at the industry level, due to the relative backwardness of the capital market. Finally, at the national level, local governments have not fundamentally solved the problems of financing difficulty and slow financing for MSMEs. In order to solve the above problems, this paper puts forward three different solutions. At the enterprise level, the enterprise should actively use digital technology to improve its own operating capability and operational compliance; Small and medium-sized banks should use new media and other technologies to strengthen ties with customers and improve service quality and data processing capabilities. At the industry level, big banks should help the small and medium-sized banks to accelerate the digital transformation. At the national level, local governments should provide policies including but not limited to financial support for the digital transformation of MSMEs.
Keywords
Digital transformation, Financing constraints, Micro-, small and medium-sized enterprises.
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Data Availability
The datasets used and/or analyzed during the current study will be available from the authors upon reasonable request.
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- Volume Title
- Proceedings of the 6th International Conference on Economic Management and Green Development (ICEMGD 2022), Part Ⅱ
- ISBN (Print)
- 978-1-915371-17-1
- ISBN (Online)
- 978-1-915371-18-8
- Published Date
- 21 March 2023
- Series
- Advances in Economics, Management and Political Sciences
- ISSN (Print)
- 2754-1169
- ISSN (Online)
- 2754-1177
- DOI
- 10.54254/2754-1169/4/20221018
- Copyright
- 21 March 2023
- Open Access
- This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited