The article discusses the challenges faced by small and medium-sized enterprises (SMEs) in Guizhou Province during restructuring after economic reforms. The study identifies several key issues: numerous problems need to be addressed, SMEs are at different stages of restructuring, and progress varies widely. The restructuring process is particularly challenging. To improve the situation, the researchers suggest speeding up the restructuring process, reducing costs, establishing dedicated funds, offering flexible payment methods, encouraging staff to buy stake in companies to speed up the process, and enhancing restructuring management efforts.