Research on Business Innovation and Development of Financing Guarantee Companies under the New Economic Normal

Abstract

Under the new economic normal, the market environment faced by financing guarantee companies has changed significantly, and the previous business operation mode and management methods have not adapted to the current economic situation. It is imperative to promote business model innovation and new product development in order to cultivate competitive advantage and sustainable development ability. This paper studies and analyzes the influence of economic restructuring period on the operation mechanism of financing guarantee companies, and puts forward the core ways to improve and expand business, such as perfecting risk control mechanism, formulating diversified guarantee schemes, improving the effect of technology implementation and strengthening customer service system. By adopting diversification strategy, financing guarantee companies can meet the market demand more effectively, improve the service level and win the dominant position in the fierce market competition.