摘要:“初创期”是任何一家企业都需经历的发展阶段，科学合理的筹资管理是新创企业能否顺利进入生命周期的后续阶段，并获得持续、健康发展的一个重要因素。本文借鉴了财务管理与创业创新管理的相关理论，运用文献综述法、比较分析法、定性分析与定量分析相结合的方法，以苏北一家成立三年的企业——超华服饰有限公司为研究对象，首先从资本成本、筹资渠道、筹资风险、筹资结构、筹资效率等角度揭示了该企业在筹资领域存在的主要瓶颈与障碍，并探寻了导致该问题产生的宏观和微观等层面的原因。结合新创企业的经营特征与的服装行业的整体竞争状况，文章提出了优化超华服饰公司筹资管理的相关举措，即通过合理选择筹资期限、充分利用商业信用等途径来控制资本成本；通过降低对银行的依赖和债务结构来优化资本结构；积极拓展外源筹资渠道；加强企业资金的风险控制以及提高筹资效率等。
关键词 新创企业；筹资；资本成本；资本结构
Abstract:“Start-up” stage is an imperative period of corporation life cycle for each corporation. The scientific and reasonable management of raising is viewed as a very important factor for the newly-founded venture to readily enter the sequent stage of life cycle and to gain sustainable and sound development. Learning from the related theories of financial management and innovation, comprehensively employing the methodologies as case study, comparative analysis as well as the method of the integration of qualitative & quantitative, the paper analyses the main bottlenecks and dilemmas of the issue of rising of ChaoHua GARMENTS CO., LTD from the perspective of capital cost, raising channel, raising risk, capital structure and raising effectiveness. According to the operating characters and she overall competitive station, the paper puts forward the following measures to perfect the management of Raising such as: to rationally control cost of capital by means of the reasonable selection of raising period and the active employment of commercial credit; to perfect the capital structure though the less depending on bank loan; to actively expand external raising channel; to reinforce the risk-control of fund , as well as, to enhance the effectiveness of raising.
Keywords Newly-founded venture Raising capital cost capital structure
