MANAGING FINANCEFinancing For SME: Best Ways to Raising Finance in Three Development StagesSupervisor: Dr。 David Brookfield Written Project By:Peng Ruoshu 202482430COSUMER MARKEINGMANAGEMENT SCHOOLUNIVERSITY OF LIVERPOOLContent1。.........................................................................................................................Introduction22. Background...........................................................................................................................33。 The barriers faced by SMEs......................................................................................43。1 Definition of SME.......................................................................43。2 Barriers faced by SMEs..............................................................53.2。1 The size of the companies is limited.................................53.2。2 The financing channel is limited.......................................63。2.3 Lack of ways to get finance help.......................................64。 Ways to Raise Finance in Three Development Stages...............................64。1 Start—up stage..........................................................................64.1。1 Seed Capital......................................................................74.1。2 Angel Investor Funding.....................................................74.2 Developing stage...........................................................................84.2。1 Loans from banks or other finance organizations............84.2。2 Leasing or Factoring..........................................................94。2.3 Venture Capital.................................................................94.3 Mature stage...............................................................................104。3。1 Public equity and public debt......................................105...