【導讀】企業(yè)的產生、生存及發(fā)展均離不開投資與融資活動。隨著我國加入WTO組織，對于中小型企業(yè)而言，應要根據(jù)自身發(fā)展需求，認真考慮如何選擇。本和風險，確定合適的融資規(guī)模以及制定最佳融資期限等問題。需要中小型企業(yè)制定適當?shù)娜谫Y策略，以作出最優(yōu)化的融資決策。經濟有效的融資工具，為公司籌集所需資金的一種市場行為。資產負債結構，而且影響了企業(yè)內部管理、經營業(yè)績、可持續(xù)發(fā)展及價值增長。權的價值、何時出售些債務和股權等等。其方式也是多種多樣，主要包括商品交易過程中各企業(yè)間發(fā)生的。賒購商品、預收貨款等形式。其次，被選中的加權平均資本成本率最低的那種融資方案只是諸種方案中最佳的，易出現(xiàn)投融資決策失效，導致投資失敗、損害企業(yè)權益的問題。在監(jiān)督職能缺乏的。中小型企業(yè)中，進行程序化的項目可行性論證是必要的，但只是決策的一個部分，往往容易犯“韓信點兵，多多益善”的錯誤。但如果籌來的資金用得不合理或者并

　　

【正文】 t activities. For example, panies would be the timely use of idle equipment, rent, sell transfer the form of inventory financing, it will not prevent losses and capital backlog, but also help improve longterm capital mobility, relieve pressure on the financing too heavy . (E) sources of funding, the pursuit of credibility to win Take the initiative to maintain good relations with financial institutions to make it understand the business and see great prospects for panies willing to support the development of enterprises, which every successful SME operators who are pulsory lesson. Including its two aspects: one is the choice of financial institutions, should be chosen career and growth of SMEs in the future for their interest and willingness to invest in financial institutions。 can provide business guidance to financial institutions。 branches and more convenient transactions of financial institutions。 wellfunded, and the low cost of funds of financial institutions。 staff quality, professional ethics sound financial institutions. The other hand, cooperation between SMEs to take the initiative to municate with financial institutions, corporate business policy, development plans, financial position, indicating the difficulties encountered in order to win the performance and credibility of financial institutions, trust and support, rather than a variety of illegal or improper means of taking money. (Vi) financing, select the appropriate size of the enterprise itself, the strength and the stage of Finance ine and costs on a parison that really necessary financing, we need to consider what kind of financing options. In the choice of financing, usually on their own to consider the size, strength, strong or weak, and corporate stage of development, bined with the characteristics of the different means of financing, select the appropriate means of financing of this enterprise development, for example, in the early days of SMEs , its financing methods you can choose equity financing, because the early start, high risk, very few financial institutions and other creditors to the financing for you. In equity financing, business owners and their friends and family members accounted for the vast majority of the funds. This part of the financing is part of insider financing or internal financing, also known as enterprise his investment. To the development of SMEs to a certain period and the size of the future, they may choose debt financing. Debt financing primarily from financial institutions, including mercial banks and finance panies. Of hightech industry, SMEs, may take into account the GEM issuing equity financing。 do not meet the listing requirements for SMEs, consider bank loans, financing and so on. (Vii) financing, the selection of the most conducive to improving the petitiveness of enterprises in financing SME financing will usually have the following direct impact on business: First, by financing small and medium enterprises can grow capital strength and ability to pay small and medium enterprises and development potential。 secondly, through the financing, can increase the credibility of small and medium enterprises to expand the enterprise product market share。 again, through the financing, small and medium enterprises can expand the scale, enhance profitability, and thus take advantage of economies of scale improve enterprise petitiveness in the market and accelerate the development of enterprises. But the degree of petitiveness of enterprises due to the improvement of corporate financing, financing the differences in ine there is a big difference. For example, equity financing, especially the first listing of ordinary shares in issue and circulation, not only impose an enormous financial intermediation, but also greatly enhance the visibility of businesses and goodwill, so that the petitiveness of enterprises could be boosted. Therefore, when financing decisions, first select the most beneficial to small and medium enterprises to improve petitive mode of financing. With China39。s accession to the World Trade Organization, Chinese SMEs will be further expansion of access to the area, which the development of SMEs a unique opportunity, but it also posed a challenge to SMEs. The small and medium enterprises in the development of the financing to make decisions is directly related to the survival of small and medium enterprises, so the investment and financing decisions of SMEs should be fully considered on their own terms, based on corporate finance strategy to consider all aspects of the feasibility of and possible will bring a variety of issues, to seek their overall balance of the proceeds.