Raw materials rose, labor costs increased, market sales were not smooth, accounts receivable rose sharply The ceramic industry, which is basically based on the private economy, has obviously encountered a much more serious crisis in 2011 than during the financial crisis in 2008. Many small and medium-sized enterprises are in a dilemma in their production and operation. However, the difficulty lies in the shortage of funds.
In order to curb the rapid rise of CPI and house prices, and prevent the inflow of "hot money", the government has raised interest rates five times since the fourth quarter of last year, greatly increasing the financing costs of enterprises. At the same time, the central bank raised the deposit reserve ratio nine times, and the deposit reserve ratio of large banks reached a historical high of 21.5%, leading to financing difficulties for enterprises. Since this week, the Central Bank of China has implemented new deposit margin regulations, which will make major banks and financial institutions pay 900 billion yuan of deposit reserves on the previous basis. It can be predicted that this round of regulation has entered the stage of deep game, CPI and house prices have not dropped significantly, but small and medium-sized enterprises have suffered a lot in this round of regulation and control. Over the next few months, it was more difficult for companies to borrow from banks than ever before.
In the face of the crisis of the broken capital chain, many small and medium-sized enterprises, which have always been single financing channels, have begun to take risks and turn to convenient and fast private lending, namely "usury". According to a data released by the central bank, in the first half of 2011, financial institutions increased RMB loans by 4.17 trillion yuan, a decrease of 10% over the same period last year. However, the newly increased entrusted loans, namely usury, amounted to 702.8 billion yuan, more than doubled year-on-year. According to another report, "a sample survey of 350 enterprises conducted by Wenzhou financial office shows that at the end of the first quarter, the proportion of self owned funds, bank loans and private loans was 56:28:16 in the composition of operating funds of enterprises. The proportion of bank loans decreased by 2% compared with the same period of last year, while the proportion of private loans increased by 6% compared with the same period last year."
Various kinds of non-governmental guarantee companies, underground banks and lending institutions dominated by usury have become the life-saving straw for many small and medium-sized enterprises in 2011, which has forced many small and medium-sized enterprises to die.
The great advantage of private lending is that the procedures are simple and the money is fast. Due to the deterioration of macroeconomic situation and the misjudgment of market expectation, many enterprises' capital chain is in crisis. Suppliers' payment cannot be paid on time, and employees' wages are also delayed. Enterprises are facing a huge survival crisis. Many enterprises have to turn their attention to usury when they can not get loans from banks through normal channels In order to solve the urgent need, the private lending market is booming. However, the high loan interest rate makes enterprises face great risks. If you're a little bit careless, you lose everything.
According to a staff member of an investment company in Guangzhou, the interest rate of loan institutions outside large banks is almost 1-2 of that of banks; if there is no mortgage loan, the monthly interest rate is as high as 7% - 10%. In fact, many underground usury institutions and banks in the short term have annual interest rates as high as 60% - 70% or even 100%, and the money earned by enterprises is far from enough to repay the interest. The reason why they take huge risks through usury financing, enterprises are often just to resolve the eyebrows, hoping to turn into a crisis through a short period of time. However, the market situation is unpredictable, once there is a problem in a certain link, enterprises can only fall into the mire and difficult to extricate themselves.
Due to the depression of the real economy, in the case of the continuous downturn of the stock market and the real estate market being restricted, some funds have entered the private lending market through guarantee companies, financial products, trust and private fund-raising. This kind of market is especially in areas where small and medium-sized private enterprises are concentrated in Jiangsu, Zhejiang and the Pearl River Delta. According to a survey conducted by Wenzhou Central Branch of the people's Bank of China, 89% of Wenzhou households (or individuals) and 56.67% of enterprises participated in private lending, and the local private lending capacity reached 56 billion yuan.
Ceramic industry is a highly private industry, a large number of small and medium-sized private enterprises are facing the crisis of capital shortage. However, compared with ceramic production enterprises, upstream ceramic raw material suppliers are more likely to fall into the crisis of capital shortage, and then seek the help of usury. Due to the industry rules formed over the years, it has become the industry practice for ceramic enterprises to default on suppliers' payment for goods from March to June. It is very difficult to do business without distributing goods. Once the goods are distributed, they can only raise and advance a large amount of funds to organize production and supply. Therefore, the bigger the business of some ceramic chemical enterprises, the more tense the funds. The cautious ones strictly control the accounts receivable to ensure the safety of the capital chain, while the bold ones seize the opportunity to seize the customers, resulting in the shortage of funds. Once there is a change, they have to lend money at high interest rate, which makes the enterprises face huge business risks.
The support for small and medium-sized enterprises is limited, whether it is the financial institutions' support for small and medium-sized enterprises, or the fiscal and tax support policies of government departments. It is important for enterprises to grasp the pace and speed of development. They should not be cautious, miss good opportunities, and never be too happy to advance blindly. If we blindly rely on usury to realize the survival and development of enterprises, it is no doubt that drinking poison to quench thirst will drag enterprises into the abyss of irreparable disaster.
