We can consider the impact of the financial crisis on small and medium-sized enterprises (current situation and specific impact), the reasons for the problems of small and medium-sized enterprises (low technology content, poor enterprise management ability and poor enterprise innovation ability), and how to deal with them.
In the global economic downturn, which industry has more advantages for SMEs may be similar. The key is that SMEs need to have a clearer understanding of their future development. Before China's entry into WTO, it not only had a good policy environment for enterprise development, but also had competitive advantages in labor cost, factory land and so on. Therefore, small and medium-sized enterprises developed rapidly in previous years. However, after 2007, especially in the second half of 2006, this situation began to change gradually. In the past, relying solely on labor-intensive and low-cost production mode has gradually encountered bottlenecks and even become obstacles, which requires small and medium-sized enterprises in China to have three preparations to solve this problem if they want to "get out of the financial crisis".
On the one hand, small and medium-sized enterprises need to carry out "technological upgrading" and "product innovation". In fact, the great weakness of small and medium-sized enterprises in China is the lack of technology, R&D and innovation ability. The export advantage of relying on cheap labor in the past has gradually lost. Therefore, it is necessary to invest more energy in product innovation and technical equipment upgrading, which is also a point that SMEs must recognize in the future. Second, small and medium-sized enterprises in China, especially export-oriented small and medium-sized enterprises, need to be equipped with some talents who are familiar with the economic and financial fields. Before the exchange rate reform in May 2005, there was basically no exchange rate risk in China's exports, and there was little risk of fluctuations in the US dollar and RMB in the market. Therefore, in such a relatively good macroeconomic situation, there is almost no problem of sudden changes in domestic and foreign markets and monetary policies. However, in the face of the current financial turmoil, if enterprises want to consider their own survival problems, they must have a necessary understanding of relevant knowledge including export exchange rate and foreign trade policy. Even professionals are needed to study and analyze exchange rate changes and other phenomena, so as to give necessary guidance to the development of enterprises.
Third, under the integration of the international economic and financial system, enterprises should understand and master the changes in international financial policies.
It is very important for enterprises to understand international financial policies, especially foreign trade enterprises, in which international "currency changes" are more important. The so-called "currency change" refers to the tightness of monetary policy from the Federal Reserve to the People's Bank of China, including deposit reserve, loan interest rate and resident deposit interest rate, including deposit reserve ratio, which is likely to be constantly regulated according to the national macro policy.
For example, the Bank of China has just announced a reduction in the deposit reserve ratio. Another example is the recent changes in the international exchange rate, which also involves the issue of "looseness and tightness" of monetary policy. In today's global economic integration, countries are more closely integrated, and a slight policy adjustment may affect the interests of enterprises, especially the interests of export enterprises. The adjustment of foreign trade policy will have a great impact on the price and cost of export products. This requires enterprises to integrate the changes of international and domestic monetary policies into their own production decisions within a period of time. This is a very important ideological change and basic preparation for the future development of small and medium-sized enterprises in China.