相对于大型企业来说,中小企业融资也经历了一个随经济的发展而由内源融资到外源融资的变换过程。中小企业在创立之初,由于市场需求不旺,生产规模有限,难以承担高额负债成本,因此十分重视自有资本的积累,避免过度的负债经营,从而主要依靠内源融资来积累资金、追加投资、扩大生产 Compared with large enterprises, SME financing has also undergone a transformation from internal financing to external financing with economic development. Since the beginning of the establishment of SMEs, due to the weak market demand and the limited scale of production, it is difficult for them to bear the high cost of indebtedness. Therefore, they attach great importance to the accumulation of their own capital so as to avoid excessive liability management and thus mainly rely on internal financing to accumulate funds. Investment, expand production