Author(s)

Jiayi Zhang

Corresponding Author

Jiayi Zhang

Abstract

In the wave of digital transformation of the global economy, digital economy has become an important driving force for promoting economic growth. Small and medium-sized enterprises (SMEs) are a new force in the development of the national economy, but they have long faced challenges such as narrow financing channels and Information asymmetry. The lack of collateral exacerbates the Financing difficulties of SMEs. The service blind spots of the traditional financial system further restrict the financing capacity of SMEs. World Bank data shows that about 40% of SMEs worldwide have financing gaps, and the proportion in China is particularly prominent. The rapid development of digital technology has provided a new path to solve the financing problems of SMEs. Digital finance has revolutionized traditional financial formats by means of big data and artificial intelligence. digital inclusive finance reduces the problem of Information asymmetry through the Data-driven credit assessment mechanism. This mechanism expands the service scope for the "Long-tail market", benefiting more SMEs. Supply chain finance and Platform ecological finance have effectively unlocked the potential of Movable property financing through digital integration of the industrial chain. Meanwhile, it examines the current status of SMEs financing under the development of digital economy, such as the rapid growth of digital inclusive finance and the improvement of financing accessibility; it also points out the challenges posed by issues like the digital divide and data security. Based on this, countermeasure suggestions are proposed from three levels: government, financial institutions, and enterprises, including strengthening digital infrastructure, deepening technology empowerment, and accelerating enterprise digital transformation. This research shows that giving full play to the advantages of the digital economy and through multi-party collaborative cooperation can effectively alleviate the Financing constraints of SMEs. At the same time, this is also helpful for promoting the sustainable development of SMEs.

Keywords

Digital Economy; Small and Medium-sized Enterprises; Financing Constraints