基于生命周期的科技型中小企业融资问题探讨

科技型中小企业是我国高新技术产业发展的主力军,是科技成果转化的孵化器,更是未来经济发展的增长点。但科技型中小企业融资困难,则制约其发展和经济潜能的发挥。而从其融资现状看,从生命周期视角不同的生命周期阶段采取不同的融资对策,如可在发展初期通过种子基金和风险投资,中期通过上市和举债,后期采取兼并等形式来融资。

The Solutions to Financing Difficulties of High-tech small & Medium Enterprises During Life Cycles

The small and medium enterrprises constitute the maijor force of Chinese hightech industry,incubating scientific and technological achievements,as a new growth point of the future economic development.Considering the current financing difficulties,this paper presents sorne solutions according to the different phases of enterprise life cycle.Such as establishing seed fund and vanture capital at the primary stage,getting listed and loaning at the secondeny stage,implementing M & A at the final stage etc.