All-China Federation of Industry and Commerce Small and Micro Financing Report: 40% of Small Stores Helped by Internet Banking

All-China Federation of Industry and Commerce Small and Micro Financing Report: 40% of Small Stores Helped by Internet Banking
On May 8, the All-China Federation of Industry and Commerce issued the “2019-2020 Small and Micro Financing Status Report.”The report found in a study of more than 150,000 small and micro enterprises and self-employed people across the country that this group of people has demonstrated strong economic value under major external shocks.After the epidemic, small and micro enterprises and self-employed capital needs are outstanding, 40.5% of the long-tail small and micro operators who need funds are saving themselves through Internet banking financing.70% of small and micro-business operators who obtain loans believe that precise “drip irrigation” contactless loans are effective, with an average of 1 yuan of interest yielding a profit of about 2 yuan.Small and micro operators pay 2 yuan for interest.Most of the small and micro enterprises and self-employed persons with a profit of RMB 23 are “small shops” that connect thousands of households.The study found that, as in other industries, the overall store economy has also been affected by the epidemic, 20.5% of small and micro enterprises and self-employed individuals face cash flow crisis, but among the small shops with financing needs, 73.7% of demand is below 500,000, and 96% is below 1 million.At the recent press conference of the State Council’s joint prevention and control mechanism for antiques, Wang Shiyu, deputy director of the Department of Policy and Regulations of the State Administration of Taxation, said that the shop contacted thousands of households to provide employment and facilitate life.However, many small shops are relatively vulnerable because of their ability to resist risks. In this epidemic, they have been hit harder. It is imperative to help small shops to overcome difficulties.Democracy, the All-China Federation of Industry and Commerce and the Internet Merchants Bank launched the “Contactless Loan Assistance Program”. Banks have responded in the past 100 years and have provided loans to more than 8 million small and micro enterprises, self-employed and rural households within a month.The first survey data shows that 70% of micro-enterprises and self-employed persons who received loans believed that “contactless loans” effectively promoted business recovery.Small and micro operators can generate about 2 for every 1 dollar of interest paid.23 yuan profit.More than 80% (82.3%) of micro-enterprises and individual operators believe that the loan availability rate has increased significantly, and it is now easier to list loans three years ago.Expert: Should promote the application of fintech in the financing of small and micro enterprises. At the scene of the report release on May 8, Tang Min, State Council Counselor, gave an image example.A Wuhan pet food store owner has traveled to 30 banks in the past 30 days. The bank also wants to help him and has support policies, but some of them cannot sign because the outlets are closed, and some cannot assess the quota because he has no running water during the closure of the city.In the end, it didn’t last. Only one bank successfully loaned him 60,000 yuan.In the end, he borrowed 460,000 smoothly through a non-contact loan from an online merchant bank, keeping his business in time.”To be honest, it is unrealistic for large banks to help small and micro enterprises, and various technical problems in actual implementation can not continue, and small and micro enterprises cannot feel the warmth of the policy.After this epidemic, it can be said that it has clearly found a way to finance small and micro enterprises, that is, fintech.We should vigorously promote the application of financial technology to the financing of small and micro enterprises, and vigorously promote the integration of technology companies with various corporate systems.”Li Yang, chairman of the National Finance and Development Laboratory, said at the scene.Digital finance has also indirectly accelerated the digital transformation of small shops.The data shows, 16.6% of small and micro enterprises and self-employed individuals transformed into online operations after the epidemic, 12.8% used telecommuting.And 95% of the small shop operators who are supported by the loan amount are confident in the future development after the outbreak is stabilized.Tang Min said, “China has traversed a path of small and micro loans with Chinese characteristics. The proportion from Internet banking is higher, the average amount of income is shorter, and the use time is shorter, which can benefit more small and micro.This feature of precise support for Xiaowei will further play a role after the epidemic.”Sauna, Ye Wang Chen Peng editor Li Weijia proofread He Yan