The fourth consideration is around making your assets work for you and freeing up cash flow which is currently tied up in the business. Under-used or unnecessary assets tie up cash that could be put to better use.

If you have identified assets in your business that are under-used ask yourself the following questions. 

• If you don’t need an asset can you sell it to bring in some cash? 
• If an asset is under-used can you hire it out to others to make cash when you’re not using it? 
• Is an asset used so rarely that it’s more cost effective to sell it and hire a replacement rather than maintain your own?

You can also explore the option of leasing your business assets by considering the following. 

• Would leasing free up your cash flow by allowing you to pay for assets over a longer period rather than in one lump sum?
• If you have loans for certain assets - are there opportunities to refinance or negotiate to get better terms from a lender?