The following papers are for reference only: "Causes and Countermeasures of Capital Shortage in Enterprises" [Keywords] Commercial enterprise finance; Fund management; Shortage of funds [Abstract] The shortage of funds in commercial enterprises is not only related to internal reasons, but also to seasonal changes in the market, changes in consumption power caused by economic fluctuations, inflation and the strength of competitors in the same region. In order to solve the problem of capital shortage, commercial enterprises must rationally arrange capital structure and asset structure and implement centralized financial management. At present, the shortage of funds is a problem that cannot be ignored by commercial enterprises. The author tries to analyze the reasons for the shortage of funds in commercial enterprises and put forward corresponding countermeasures. I. Reasons for the shortage of funds in commercial enterprises There are many reasons for the shortage of funds in commercial operations. Commercial enterprises are in the middle of circulation, with a large backlog of funds, and they bear great risks in their operations. From the internal factors, the reasons for the shortage of funds in commercial enterprises are as follows: first, the initial capital investment of enterprises is insufficient, which is mainly maintained by loans, and the rapid expansion of enterprises has drawn too much liquidity for expansion, resulting in difficulties in fund turnover such as equipment renewal and new chain stores. Second, due to poor management, the capital turnover in a certain link is blocked, such as a large backlog of inventory and an increase in foreign loans. Third, there is a loss in business operations. When an enterprise loses money, especially when the loss is greater than the depreciation withdrawal amount of the enterprise, the direct result is that the liquidity of the enterprise is gradually reduced, resulting in a shortage of funds. In addition, the deterioration of inventory, the destruction of property and the loss of bad debts will all cause the shortage of funds for enterprises. The shortage of funds in commercial enterprises is not only due to the enterprise itself, but also related to seasonal changes in the market, changes in consumption power caused by economic fluctuations, inflation and the strength of competitors in the same region. First of all, insufficient capital and blind investment have caused financial strain. With the continuous development of society, commerce has gradually developed from a single department store to shopping centers, supermarkets, convenience stores and other formats, attracting their own consumer groups with its unique advantages. When many enterprises change from the old business model to the new one, they fail to achieve the expected business objectives due to insufficient sources of funds or excessive investment and insufficient fixed investment. Even if the fixed investment is sufficient, due to the crowding out of a large amount of liquidity, the turnover is difficult and the benefits are reduced. Second, poor management has caused enterprises to be short of funds. First, extensive management of inventory goods. The business process of commercial enterprises is to buy and sell goods and realize the accumulation of money. Commodity is the largest asset of capital occupied by commercial enterprises after normal operation, and plays a decisive role in the realization of business objectives. At present, enterprises in China face two problems. First of all, it is impossible to predict the purchase quantity in time, accurately and scientifically. If a large number of goods are purchased at one time, it will easily lead to a backlog of inventory. On the one hand, it will occupy a lot of funds and increase the cost of using funds. On the other hand, it will increase the management cost of inventory, and at the same time increase the possibility of damage and bear a great risk of price decline. Secondly, it is difficult to grasp the inventory situation of goods in detail, which affects the pricing decision of goods. Due to the increasing number of commodities, a large commercial enterprise has tens of thousands of varieties. Such a huge amount of data is managed by hand, and daily accounting can only be estimated, which increases the amount of labor and wastes a lot of human resources. Moreover, due to the inability to grasp the detailed inventory and storage period, it is difficult to adjust the price of goods in time, resulting in some goods being discounted at the mature stage of sales, while some goods have already passed the shelf life and are still in the inventory backlog. Second, the policy of selling on credit is improper. Reasonable use of credit sales policy is helpful to stabilize sales channels and open up markets. However, due to incomplete sales on credit, accounts receivable will be directly generated. Improper control of credit sales and lax management of accounts receivable will affect the normal turnover of enterprise liquidity. The increase of accounts receivable not only takes up a lot of funds, which leads to the precipitation of funds in circulation and slows down the speed of capital turnover, but also inevitably produces some bad debts, resulting in complete loss of funds. Third, there is no budget for expenses or poor budget implementation. At present, there is a widespread phenomenon in commercial enterprises that there is no budget or the budget implementation is not strict. Mainly manifested in the following aspects: First, there is no budget for procurement expenses. Scientific shopping should not only compare the prices of goods, but also strictly control the purchase cost. Second, there is no budget for daily expenses. At present, there are many problems in the cost management of most commercial enterprises, such as daily maintenance fees and external procurement fees. For example, due to the lack of control, procurement from far to near, high quality and low price. Third, there is no budget for major expenditures. At present, some major expenditure projects lack scientific forecast arrangement in advance, strict control in the process and strict evaluation and audit afterwards, resulting in waste of project funds, additional investment in the middle and unclear responsibility afterwards. Fourth, due to improper management system, funds are tight. At present, due to the limitation of management system, most commercial enterprises implement two-level accounting and cannot strictly implement the budget. The funds between accounting units cannot exchange needed goods, resulting in uneven drought and flood. Second, the countermeasures to solve the problem of capital shortage in commercial enterprises. Capital is the blood of an enterprise, which brings currency appreciation to the enterprise through repeated operations. Once anemia occurs in enterprises, it must be solved in time. There are two ways to solve the shortage of funds in enterprises. One is to raise funds from outside. To raise funds from outside, we should choose different ways according to the enterprise's own conditions, mainly including issuing new shares and bonds. The second is to find the needed funds from the inside, such as speeding up the turnover of inventory, speeding up the recovery of accounts receivable, and rationally utilizing credit funds. To solve the problem of capital shortage, enterprises must do the following work: optimize the capital structure and asset structure. Capital structure refers to the composition and proportion of various sources of long-term financing for enterprises. Usually, the capital structure of an enterprise consists of long-term debt capital and equity capital. Reasonable capital structure is the debt and equity structure with the greatest income per share. There are two basic ideas to achieve this goal. One is to improve the enterprise's income before interest and tax as much as possible while keeping the existing capital structure unchanged, that is, to improve the overall profitability of the enterprise through management; The second is to optimize the structure by adjusting the capital structure while keeping the earnings before interest and tax unchanged. Asset structure refers to the proportion of various assets in enterprise investment, mainly referring to the proportion of fixed assets investment, securities investment and working capital investment. The focus of asset structure management is to determine a liquidity level that can not only maintain the normal business activities of enterprises such as stock turnover, but also bring more profits to enterprises without increasing risks. Before developing a new store, we should not only consider the fixed investment in the early stage, but also pay attention to the adequacy of liquidity. With the help of network means, centralized financial management is implemented. For commercial enterprises, centralized financial management mainly includes unified account opening, unified settlement, unified procurement and unified accounting. First of all, we should establish a reasonable accounting system and set up a settlement center, an accounting center and an audit center in the head office. The settlement center is mainly responsible for the transfer of internal funds and the repayment of purchase funds, the accounting center is mainly responsible for recording and handling economic matters, and the audit center is mainly responsible for the audit of fund utilization and account book records. Through the effective cooperation of these three departments, the benign operation of funds can be realized. Unified account opening means that all affiliated enterprises in the same city should open internal accounts in the company settlement center, and all funds should be deposited in the company bank account. The settlement center effectively supervises the rationality and legality of each income and expenditure, and at the same time, in accordance with the bank's management measures, formulates systems such as deposit payment, deposit interest payment, loan interest collection and overdraft penalty interest. This not only solves the problem of idle funds in individual departments, but also solves the problem of shortage of funds in some departments. Set up a distribution center in the procurement process, and all purchases will be made by the distribution center and the company's goods department. Because of the large purchase volume, it is easy to check the quality and reduce the cost Moreover, goods can be adjusted in different stores to prevent the occurrence of inventory backlog and shortage and improve the efficiency of capital turnover. For unincorporated institutions, all accounting in the company can greatly reduce labor costs and accounting costs; For corporate institutions, decentralized bookkeeping and centralized auditing can be implemented, that is, accountants appointed by the company can handle accounts remotely, and auditors can audit through the network, which not only greatly reduces the cost, but also facilitates timely information and overall arrangement of funds. Centralized financial management can realize the unified scheduling and arrangement of company funds and improve the ability to use funds. Strengthen daily management. First, we must strengthen budget management. Budget control includes budget coordination, budget adjustment, budget monitoring and budget arbitration. Second, we must strengthen inventory management. Mainly to strengthen the control of ordering points. Third, we should strengthen the management of accounts receivable. The management of accounts receivable mainly includes credit sales authorization, credit sales income calculation, customer credit investigation, payment recovery, bad debt treatment and so on. Fourth, rational use of credit funds. The specific forms of commercial credit include accounts payable, notes payable, etc. Among them, accounts payable accounted for the largest proportion. The management of accounts payable should focus on measuring the cost of accounts payable, paying attention to the reasonable arrangement of fund repayment, and paying attention to the management of VAT invoices during settlement. 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