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Middle and Small Enterprises become more and more important aspect of China economy,it is occupying 99%of China enterprises and creating 50%of China GDP,and they are making great effect to technical innovation,taking up employment,structural transform,enlarging export and so on.It has been become world class question about how to prove M&S enterprises’ developing.In fact,before this international financial crisis,Chinese M&S enterprises has been facing many difficulties,but this worldwide financial crisis is bringing M&S enterprises even more difficulties,specially the fund circulating become the key difficulty for M&S enterprises.Circulating funds for middle and small enterprises is different from large enterprises, they have their own characters,for example,more circulating difficulties,higher circulating cost,more circulating risks,and also the middle and small enterprises,which are in different seedtime and have different specifications,have their own different characteristics.In China,the current situation of circulating funds for MSE is under narrow circulating channel and small-scale direct circulating,and also bank loan becomes most important circulating channel.Difficulty for circulating funds is reflected on lack of hostage,lower credit rank and lack of managing risks inside of enterprise, and on finance resource distribution not matching layout of enterprises,lack of professional bank & hypothecating organization outside of enterprise.The tactics to solve the difficulties of circulating funds include inside-source circulating tactics and outside-source circulating tactics,and inside-source circulating tactics include dredging up.fund potential,strengthening management to the inventory,lower expense & cost, credit circulating,etc.Indirect circulating tactics include promoting cooperation & relationship with banks against information exchange,finance management,managing quality and hypothecating,on the other hand,to look for new hypothecating styles for solving the difficulties of hypothecating,such as warranty companies,natural person or associated hypothecating,or to use chattel circulating style to solve the difficulties of mortgage and hypothecating.The tactics of direct circulating funds include stock circulating,establishing development funds based on mutual aid,mortgage,etc.
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