Since the economic downturn, we have seen a change in the mindset of many business owners when considering the purchase of a business critical asset. Purchasing assets using cash reserves may not always be the most sensible option. Even those businesses which are are cash rich, sometimes have a preference to finance assets over a fixed term – there is often no need for additional security as the finance is secured on the asset. Interest can be competitive and in some circumstances, repayments can be offset against profits, therefore minimising the year-end tax bill. Many of our finance house partners will now offer funding for a range of assets from machinery and vehicles (hard assets) to office desks, chairs and even software (soft assets). In the case that a business has capital tied up in assets, we may advise selling these assets back to a lender which will, in turn, release capital back to the business.