A sudden epidemic caught many small and medium-sized enterprises by surprise. Under the epidemic, how can small and medium-sized enterprises “help themselves” to get out of the epidemic predicament as soon as possible? How should small and medium-sized enterprises develop after the epidemic is over?
CCTV Financial New Media joins hands with “China Economic Lecture Hall” to specially plan “New Post-Epidemic” Opportunities” invited Huang Yiping, deputy director of the National School of Development of Peking University, to give exclusive answers.
Huang Yiping: The new economy, especially the digital economy, has played a role as a macroeconomic stabilizer
Huang Yiping believes that today’s new economy, especially the digital economy, has played a role as a macroeconomic stabilizer. He said that 17 years ago, if we had to isolate and close down, many economic activities would basically come to a halt. Although many economic activities have been reduced due to quarantine, some economic activities have been replaced. For example, transactions that were originally offline have now become online transactions. Nowadays, the business of the offline catering industry has decreased a lot, but many restaurants are doing online takeout, even hot pot restaurants in Chengdu are doing takeout. Online business has become more active, which has played a buffering role in a certain sense.
There is a shoemaking company in Zhejiang called Red Dragonfly. Due to the impact of the epidemic, all 4,000 offline stores were closed. They focused on developing online business. It is said that during that period Online operating income increased by 600%. This kind of digital economy and digital technology has buffered the impact of the epidemic to a certain extent, which was not the case 17 years ago.
What should small, medium and micro enterprises do if their cash flow breaks? Huang Yiping: Do these three things well
In this epidemic, small, medium and micro enterprises have been greatly affected and are facing a cash flow rupture.
Huang Yiping said that most small, medium and micro enterprises do not hold much cash reserves. If they continue to face economic difficulties, the biggest risk is a break in cash flow. Without money to maintain operating activities, it may lead to bankruptcy, Close the door and wait.
Huang Yiping believes that there are generally three aspects to help support small, medium and micro enterprises to tide over difficulties and maintain better cash flow. way of doing.
First, help small, medium and micro enterprises to increase operating income as much as possible. Increasing operating income is a multi-faceted strategy;
Second , control costs and reduce expenses so that small, medium and micro enterprises can continue to operate. For example, rent reduction, interest expense reduction, social security payment deferment, electricity bill reduction, etc.;
Third, the government may provide direct subsidies to some small, medium and micro enterprises.
This approach has two benefits: on the one hand, it indirectly supports the lives of workers’ families; on the other hand, it allows companies to retain their workforce. Once economic order is restored, economic activities will resume. It can pick up quickly. This is also an important means to support economic and financial stability. We can consider providing some direct support to maintain the liquidity of enterprises and maintain their balance sheets.
The difficulty of getting a loan may become the “life-threatening straw”. How to solve it? Huang Yiping: Digital technology is a “good helper”
Huang Yiping said that there is a shortage of financing for small, medium and micro enterprises, and the traditional financing methods of many enterprises are very insufficient. Many financial institutions are also doing a lot of things. For example, banks are doing online transactions.
Online loans have great advantages over offline loans and loans from physical banks. This advantage may come from two aspects:
First The first aspect is that during disaster shocks, especially after disasters, it is very difficult for customers and financial institutions to do face-to-face transactions;
The second aspect is that many small, medium and micro enterprises Go to the bank for a loan, but banks often require traditional risk control information conditions when making credit decisions, such as financial data and mortgage assets. These small, medium and micro enterprises cannot meet the standards and it is difficult to obtain bank loans. This is shown online. Very outstanding advantages.
For example, during the impact of the epidemic, there was an online bank in Chengdu called Xinwang Bank. They found that during the epidemic, small, medium and micro enterprises Not only did corporate loan applications not decrease, they actually increased.
During the epidemic, many small, medium and micro enterprises have the problem of shortage of funds. How to solve this problem? Under such circumstances, it is actually very difficult to get a loan from a traditional bank. First, there is no direct contact with the bank, and many transactions are now contactless; second, there is no need for traditional bank credit and risk control. basic factors.
In this regard, many digital financial institutions have played a big role in supporting small, medium and micro enterprises, helping them tide over difficulties and providing them with various subsidies and financing. In the past, there was often a lack of a “starting point”, that is, how to find small, medium and micro enterprises, how to evaluate them, and how to provide them with direct support.
Digital technology can alleviate such problems to a considerable extent. Not only can these companies be found, but they can also be found.��’s operating conditions. In the future, for example, in terms of inclusive finance or supporting small, medium and micro enterprises, digital technology will be a tool worthy of great attention. </p
