(Focus on Boao) How can SMEs seize the opportunity to break through the bottleneck?
China News Agency, Boao, April 19 (Pang Wuji and Bo Wenwen) Small and medium-sized enterprises have always been regarded as the source of economic vitality.
However, under the impact of the new crown pneumonia epidemic, many small and medium-sized enterprises have been tested by "life and death".
How can SMEs seize opportunities and break through bottlenecks?
Difficulty in financing for SMEs?
At the 2021 Boao Forum for Asia Annual Conference “The Way to Survive Small and Medium-sized Enterprises”, Li Yang, chairman of the National Finance and Development Laboratory, pointed out that the epidemic has reduced the channels for small and micro enterprises to obtain funds through traditional financing methods, reducing their capabilities Rising costs.
The first solution he proposed is financial technology.
Li Yang said that in the past, traditional financial institutions could only cover 20% of the population, but now they can cover the remaining 80% by means of financial technology, covering "long-tail customers."
Fintech makes it easier for people to access financial resources. "With a mobile phone, you can get financial services in the mountains and forests."
Moreover, "financial technology has reduced costs, and its inclusive function has been fully demonstrated in this epidemic." Li Yang said that China's financial technology is currently at the forefront of the world, especially in supporting small and micro enterprises.
Michael Levy, vice president of R&D and innovation at AAQIUS, also believes that financial technology is indeed very important for solving small loans.
He pointed out that from a global perspective, financing difficulties for SMEs is a typical problem.
In Europe, the typical problem of financing difficulties for small and medium-sized enterprises also exists. The balance sheets of small and medium-sized enterprises do not have much money, and it is difficult to obtain equity financing and government subsidies.
In addition to financial technology, Li Yang also proposed that the use of cooperative finance, supply chain finance, platform finance and other methods can also help small and micro enterprises obtain the necessary development funds and solve financing problems.
Hewlett-Packard Global Vice President Jin Weidong reminded that before financing, small and medium enterprises must first realize whether they can seize market opportunities. This is the prerequisite for the survival of the enterprise.
If there is no business, the money raised will become a burden instead.
Can't afford intellectual property?
Liu Hua, director of the China Office of the World Intellectual Property Organization, believes that the World Intellectual Property Organization can use intellectual property to help small and medium-sized enterprises and small and micro enterprises.
"If an enterprise makes good use of intellectual property rights, it is close to a gold mine of intellectual wealth."
Michael Levy agrees with the importance of intellectual property to SMEs: "If there is no (IP protection), we may not survive."
He said that some large companies "will directly steal our innovations and squeeze us out of the market, so patent protection is the only way we can survive."
But intellectual property is very expensive. Michael Levy said that the company’s 155 patents would cost 400,000 euros a year, "but this kind of investment is very worthwhile."
Li Yang pointed out that the current intellectual property rights are difficult to trade and the utilization rate is extremely low. The world is experiencing the problem of the conversion rate of intellectual property rights.
He pointed out that the international community is currently promoting the free opening of some intellectual property rights as public goods, which is a revolutionary change.
In addition, he suggested designing a mechanism to make it easier to trade intellectual property rights, so that everyone, including small and micro enterprises, can reach it.
Li Yang proposed to establish a patent and intellectual property exchange in Hainan, facing the world, to help solve the problem of intellectual property transactions.
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