Debt to equity ratio is an important factor banks and lenders use in determining if they will loan a business money. If the ratio is too high then the business will be denied.  While not a perfect tool to use, it is similar to a persoanl debt to income ratio and credit score that are used. 

Ways to lower the ratio are to increase profitable sales. If sales can be increased without increasing costs or overhead the business will have a higher income level and more money to pay down debt.  Restructuring debt is another way because it can increase cash and disposable income.  This works if interest rates are low enough to effect the restructuring.  Bringing in an investor is another method that could be used.  By doing this your equity goes up therefore decreasing your debt to equity ratio.  Of course, bringing in an investor can create bigger complications.  Lastly businesses could sale their assets and then lease them back. While that may not be the most practical solution, if you get a return on the assets for more than it was worth.  This option could be a lot more trouble then it's worth in the end, but it may also decrease the costs of maintenance and repairs if a lease agreement states that the leaser is responsible for upkeep.

Of course, there are always fraudulent ways to go about increasing your debt to equity ratio, but at the end of the day fraudulent activity ends up being caught and nothing good can come of it. 

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