Business

Medium-sized and small businesses are always concerned about standard deductions such as supplies and rent. However, there are lesser-known costs one can leverage to get a more considerable refund debt.

The lesser your tax liability, the higher chances you have to excel in business. You can get to that by writing off some business operation expenses legally. In a moment, we will discuss prominent small business tax deductions for 2020 and 2021 to help in future planning.

What do you understand by a Tax Deduction?

A tax deduction is also termed as a tax write-off. It’s merely an expense that can be deducted from the income you are taxed on. You just have to subtract the expense amount from your taxable earnings. In short, tax deductions lessen the tax burden for small business owners. All the same, the deductible expense must meet IRS conditions for a tax deduction.

Below is an extensive list of tax deductions available to small business;

Salaries and wages

Payment to workers includes bonuses, commissions bonuses, salaries, wages, plus taxable fringe benefits. These are deductible expenses for businesses.

However, payments made to LLC members, partners, and sole proprietors aren’t wages. That’s saying that they don’t fall under the category of deductible business expenses as the owners are not workers. Nevertheless, in an S corporation or C corporation, the owner can be titled as a worker and even get a salary, but that is if the owner is carrying out primary roles.

Contract labor

Most small business owners rely on independent contractors and freelancers to provide labor. Such contract labor cost is deductible. But you must give Form 1099-MISC to the contractor who is getting $600 or even more from you. If the contractor is paid through PayPal or credit card, the processor will decide whether to give Form 1099-K to the Independent contractors. Furthermore, for personal protection, you may choose to send your 1099-MISC.

Supplies

The cost of small business items such as cleaning supplies is deductible expenses. Besides, if you opt for de minimis safe harbor, that will allow you to cut on the cost of such items as vacuum cleaners and tablets instead of depreciating. Such things are categorized as non-incidental materials/ supplies.

Depreciation

Sometimes, it’s possible to write off the entire cost for business items you bought in the tax year you purchased them. This also covers Section 179 deduction- it permits you to cut the full cost of items bought up to a set dollar limit which was $1,040,000 in 2020. There are other limits linked to section 179 deductions.

Also, there is a bonus depreciation allowance. This bonus allows you to write off 100% of the cost incurred on computers, furniture, appliances, equipment, and machinery.

Advertising and promotion

Marketing cost is 100% deductible. This covers things such as;

·         Hiring an expert to design your business logo

·         Printing business brochures and cards

·         Sending cards to your customers

·         Creating a new website

·         Sponsoring an event

·         Buying ad space in print/ online media, among others

Nevertheless, it’s not possible to subtract amounts that have been paid for legislation purposes or money paid to sponsor political events.

Business meals

You can subtract 50 percent of qualifying beverage and food costs. Furthermore, you can subtract 50 % of the cost incurred in feeding your workers, such as purchasing pizza for supper when your employees work late. Business meals provided at office picnics or parties can be written-off 100%.

Be sure to document such occasions and include the amount incurred on each expense, place of the meal, day, and the business relationship of the people who ate the dinner. At the back of the receipt, you can also highlight what you discussed.

Business insurance

Did you know the amount paid for business insurance is deductible? It includes the following;

·         Assets coverage (equipment, buildings, and furniture)

·         Liability coverage

·         Malpractice insurance or professional liability

·         Auto insurance for company’s vehicles

·         Group health, vision, and dental insurance for workers and so on.

Bank fees

It’s an excellent idea to have separate credit cards and bank accounts. In case your credit card company or bank charges monthly or annual service charges, overdraft fees, or transfer fees, all these can be deducted. Besides, you can write off third-party payment processor fees such as Stripe or Paypal.

Note that you cannot write your credit cards or personal bank accounts.

Education

Education costs are 100% deductible, provided they are essential for your business. However, the IRS must evaluate your education cost to decide whether it qualifies. Therefore, it will check whether education helps to sharpen the skills needed in your business. Some qualifying business education expenses include the following;

·         Webinars and seminars

·         Books related to your industry

·         Classes to sharpen business skills

·         Transport cost incurred when going to class

·         Workshops for increasing expertise

To read more on topics like this, check out the Business category

If you have taken the plunge and have become self-employed, or you are thinking about it, then we have some tips for you. It may seem like a daunting prospect that you don’t have a manager to fall back on, but as long you have done your research and are confident in your business model, it doesn’t need to be stressful.

Below are our top tips about everything you need to know when it comes to self-employment.

Work-life balance

One of the biggest pros to becoming self-employed is the work-life balance. When you are your own boss you can decide the days you work and the times you start and finish. This is great if you have a family, or you are simply tired of working the regular 9-5 as you can decide when to switch off.

While this can reduce stress and make working more enjoyable, being self-employed can sometimes have a negative effect too as you may find yourself overworking as it’s your business which can lead to stress and reduced energy levels. Before you start your new career, you should have a plan to find the perfect balance to suit your lifestyle.

There are start-up costs

Another element you need to consider is the start-up cost. When you work for a business you will be provided with all of the equipment you need to do your job, but when you are self-employed, you are responsible for everything. Depending on the industry you’re in, you will need specific equipment, but generally, all businesses will need to think about buying a laptop or desktop computer. Don’t forget to budget for this and for any software you may need too.

Don’t forget about tax

While being self-employed can make life a little easier thanks to being your own boss and deciding your own hours, it does mean you are fully responsible for filing your tax forms. If you are unsure how to do this, you should invest in either a system that walks you through it or hire an accountant to help. Hiring an accountant will come with a higher cost, but there are kits available to make filing your taxes much easier so you can avoid that cost.

Your pay may be irregular

One of the biggest things you need to consider when becoming self-employed is that your pay me be irregular. This means you could struggle to get a mortgage or borrow money as your salary may vary. This will require more planning, but over time, you may see a regular income as your business grows and you become more experienced in handling your time, workload and finances.

While being self-employed brings with it many challenges, it also offers a chance to make the big decisions and decide what’s best for you and your career.

To read more on topics like this, check out the Business category

Dallas is a metropolis city of Texas, buzzing with the cultural and commercial life of the region. A lot of young professionals and their families have chosen Dallas as their home. For a beautifully structural residential property, It is always advisable to hire a professional. A residential structural engineer Dallas will be the right choice to construct a residential property. A recent survey revealed that 86% of people who contacted a house inspector found at least one problem in the house structure. An expert can help not only to identify but avoid that issue altogether.

Who is a residential structural engineer?

A residential structure engineer is a certified professional who performs evaluation and design services for structures. As an expert in foundation, roofing, and building structures, a structural engineer can provide their client with various services. The selection of the right residential structural engineer is significant for the successful completion of the project.

When to hire a residential structural engineer?

The need to hire a residential structural engineer is in the following circumstances.

• Sale of a house- To get the right amount from your property, it is vital to get it assessed by an expert first. Before placing the property in the market, it is critical to repair the property’s severe damages.
• Renovation- An expert best conducts the extent of damages in the property and assesses repairs’ cost.
• Buying a home: The best way to assess the actual value and the house’s condition is to get it inspected by an expert. The expert can guide you through negotiating the price of the repairs if required.
• Foundation issues- Small cracks in the foundation are not a matter of concern, whereas over a quarter of an inch is a matter of concern. Unchecked problems become more significant problems later on.
• Damage to your home- Incase of natural calamities like storms, get the claim from an insurance company. A residential structural engineer in Dallas will be of great help.

Tips to look for a residential structural engineer in Dallas

The first step is to vet a professional is vital. To develop trust and handling responsibility for your structural property, you need to build a confidence level to do so.

1. Well Qualified

A person who understands the building structure’s technicalities is the right fit for the job that is a Certified Structural or a civil engineer. This person owns an equivalent degree such as a postgraduate in construction or quantity surveying. For understanding any problems at the site, it is vital to have a sound knowledge of the details in building a solid structure.

2. Scope of work

Scope of work relates to the document or proposal given by the engineer framing the time estimation and the project’s cost. The paperwork should include the client’s budget and functional design as per your choice. The area of expertise of the engineer is a big point of consideration.

3. Technically Competent

Experience and a professionally qualified person is the right choice for building a structure. Still, it is always better to ask about their previous experience and how well they have handled it. Creating a new building faces many different challenges to know the professional’s competence level. The past experiences act as the parameter to check their credibility.

4. Project experience

Check the engineer’s suitability; it is essential to check out the similar projects completed and seasoned in other projects. It is necessary to know that the structural engineer understands site limitations and weather conditions. These two are vital factors to disturb the completion of the project in time.

5. Thorough construction knowledge

The residential structural engineer’s imperative duty should be to ensure that the structure is buildable with no area of error. The cost control, the functional design, and can effectively oversee the project are the points to be considered.

6. Building codes

A set of building codes given by the jurisdiction to which the residential structural engineer Dallas should comply. These codes set the standard for a minimum level of safety.

7. Innovative ideas

In modern times like these in a cultural metropolitan, a residential structural engineer Dallas needs to be very creative. Nobody likes repetition or copied designs. An expert needs to think out of the box. While checking the engineer’s credentials, he is the right for any complex projects under his wing.

To sum up

There are 300 to 500 civil engineers in the United States. Some of them specialize in structural engineering. When you choose, consider the tips mentioned above, and then it will be easy to select a residential structural engineer Dallas.

To read more on topics like this, check out the Business category

There is a lot of evolution in the technological realm, and businesses have to find a way to keep up. It is good to see brick-and-mortar businesses trying hard to invest in digital marketing plans and is willing to leverage 2021 tax breaks and benefits for small businesses. The online market grows daily. And every business should focus on how to reach the online community fast. 

The success or failure of any business will depend on whether the firm will draw online consumers or not. Most businesses face tough competition when they fail to employ digital marketing strategies. They only utilize traditional marketing streams which are almost becoming ineffective. Indeed, digital marketing can greatly help businesses. Here are the various ways your new business can benefit from digital marketing.

It widens your reach.

Truly, it is hard and time-consuming to expand your business to new geo-locations. Typically, you will require a lot of resources, and time to achieve that. But with the right digital marketing approaches, it is incredibly easy. Remember, digital marketing plans are easy to set up and can be improved anytime. You will then reap big from a plan that did not require much investment. Besides, you will reach a wider geographical area that could otherwise be impossible to penetrate.

Building a Brand name

One of the objectives of your business should be delivering exactly what you promise. If you do so, your clients will be happy. Many clients will trust your product or services. And the customers will pass positive reviews about your products to their peers, friends, and family. That way, your brand name will be strong.

The positive talk about your brand will make it strong in the market. And digital marketing is a great way to ensure that clients’ positive reviews reach other potential buyers easily. Thus, make use of digital marketing solutions s to improve brand awareness. Make sure you create a nice logo for your business and an impressive tagline to portray a reliable brand.

 Cost-Effective

Traditional marketing solutions require high capital. Running an advert on the TV is an expensive idea. Also, billboards and print ads are equally expensive. This factor makes it hard for new business and even established enterprises to lag behind, especially when relying on traditional marketing solutions. But with digital marketing, they can reach thousands of potential customers without breaking the bank. Digital marketing solutions do not demand huge sums of money. This connotes even new businesses can leverage such solutions and still reap big. Thus, you would better leverage digital marketing solutions because they are cost-effective.

Better revenues

Any business would earn higher revenues if their marketing strategy led to higher conversions. Most traditional marketing solutions result in very low conversions. Thus, they do not earn any significant revenue. However, digital marketing lead to high conversion rates which produce high revenues for the company. According to research, digital marketing plans boost the greater ratio of growth in terms of revenue- typically 2.8 times.

Improved ROI

The value of the company’s brand and revenue will improve if effective digital marketing plans are utilized. This connotes that the company’s ROI will be high. Remember, digital marketing plans can be monitored easily.  This makes it easy for you to measure the real results per strategy. And if you figure out the plan that gives faster results, you can employ it for the long term. Eventually, ROI will be very high compared to the use of traditional marketing plans. Thus, it is about time you called in the experts who are well-versed in this type of client hunt. Most likely, you may need the nerds who are highly experienced and ready to sit down with you, discuss the project, detail their procedures, and execute the agreed activities.

There is nothing that is more promising than a digital marketing plan. Your business needs to leverage the ever-growing online community. Thus, you should consider digital marketing plans which will improve ROI, help you reach a wider audience, are cost-effective, produce better revenues and improve your brand.

You need to make huge returns in your small or even big business. Perhaps, you will have to find a way to reach all potential customers before any other firm in your industry does so. That is why you need to integrate the most effective marketing approaches that will take your business where you want it to be. More prospects may not equal to higher sales but will contribute to better returns. most of the prospects may turn to be frequent buyers and some will even refer their friends and family to your business.

Manufacturing factoring is different from taking a loan. It’s a process where companies sell their active invoices for a cash advance to a factoring company. It helps a company with the receivable cash to use for operational costs. Often it takes for the payments to appear, and in such cases, the companies find it difficult to operate the business. Rather than waiting for cashflow and compromising the company’s operations and growth, factoring to secure the money required for operations is the best option.

The Benefits of Working with Companies That Provide Manufacturing Factoring

Companies often suffer from payment delays, which makes it difficult for companies to work. Usually, in such cases, companies are forced to take up loans to run the company. However, with the help of manufacturing factoring, you can immediately enjoy the benefits, unlike bank loans that take a lot of time to process. The companies that apply for factoring receive about ninety-five percent of the payment in less than twenty-four hours. The company doesn’t require you to create new debt on the balance sheet.

The procedure of factoring the manufacturing companies is easy, all it requires is to mail or fax the invoice sheets of open invoices, and the factor of the company will deposit the money in your bank account. This saves you any cost of delivery of invoice sheets and shipping these papers overnight.

The factoring capitals help maintain a smooth flow of work and cover all the operational expenses and extra costs to invest in the business. The best part about factoring companies is that companies can qualify for a fund. Moreover, it also increases the funding potential every day with a growing business without any new application.

Why Use Factoring Companies for Growing Business?

Associating with factors in companies means a lot more to business than any immediate way to cash. Although, accessing cash in time of need is a significant benefit. Here is a list of benefits of financing the manufacturing company via factoring.

• No Maximums or Minimums Every Month

The funding potential is limited to sales with factoring companies. There is no maximum upper limit number to cross and no minimum amount to access the factoring. A company can access the factoring benefit any time they want and as many times they want to maintain the manufacturing company’s workflow.

• Long Term Contracts Are Not Required

Often many companies or banks issue contracts with the loans. However, there is nothing like getting trapped with the money with the factoring companies as there are no contracts. The relationship between the manufacturing and the factoring company is limited from six to twelve months of the agreement. The company can review the cash that works best for the company.

• Manage and Eliminate Debts

The factoring company allows the manufacturing companies to have a regular cash flow and lower the debt holding the credit values down. As soon as the companies clear the old debts, they automatically qualify for financing in the future.

• Huge Discounts

Some companies ask for a better factoring amount and also authorize for a better rate in the market. Huge discounts are often seen in the agreements of the factoring companies.

• Flexible Business Options

Early discount options and the advantage of bulk orders will help take up incentives and payments for the suppliers. This is because factoring allows you with the capital you need to cover the project work.

• Save Time And Money

Factoring companies help manufacturing companies save a lot of time and money. The invoice factoring company will verify the documents for free, save additional charge costs, and instantly pay credit to your company. The verification procedure also doubles to ensure your company that the partner company is reliable and good to work with for years.

• 24 Hours Online Reporting

Companies usually suffer long hours of wait for customers to pay them. The factoring system has twenty-four hours of online reporting, which helps the companies to log in to their account and check every detail to suspend before any problem arises. The all-day access to account information helps to integrate the business records with the factoring accounts.

Final words

The beginning of factoring for manufacturing companies is simple and easy. The best part is that the companies with poor finances and credits are eligible for funds. However, this is dependable on the creditworthiness of the customer. When looking for a factoring company, always check for their rates and your company requirements. Usually, the factoring companies have no hidden charges; hence it is a perfect opportunity for small companies.

To read more on topics like this, check out the Business category

In the digital age there are so many companies with grand plans as to what they are able to offer their customers yet they often fail to have the know-how or the technical ability to set it up, or even to manage it. For this reason why are going to look today at API management solutions and what that is able to offer a business. To those of you who believe that you are unaware, and API is an application programming interface and simply put it is a piece of very simple software which allows your company programs to interact with others. Let’s say for example that you wish to put together an application for a travel agent and you want the customer to be able to get the most up to date information, and API will help your app to integrate with airlines, hotels and even weather information to give your customers the best advice.

This is why it is critical that your company utilizes the API management solutions.

Essence of Outsourcing

The absolute essence of outsourcing is that you hand off a particular area of your business to he experts so that they will be able to ensure that your business is improved as a result. When it comes to the management of an API, or multiple APIs, it is absolutely essential that you have some experts on board who are going to be able to make sure that you are able to scale up when required and to deliver the best results for your customers. Most companies do not have in-house API experts, which is why using management solutions makes the most sense.

Ensuring Maximum Speed and Functionality

For those who know what APIs are all about, the management of them is in fact very simple, despite the number of moving parts that is involved. To the unaware however this is in fact a very tough aspect of the business to manage. The problem that so many companies have is that they believe that once an API or multiple APIs have been established, that everything is going to run smoothly. Sadly however it only takes one very small thing to go wrong and all of a sudden the app is not functional and you are disappointing your users. Having an API management solution team on your side is the perfect way to avoid this from happening and to ensure that your apps run just as smoothly as they should.

Company Reputation

There is little point in offering your customers something that glitters with gold when in fact it doesn’t operate well, and in doing so you are going to greatly damage your reputation. With this in mind, the use of a company which can offer you API management support, is going to make sure that you have a team on board which will maximize your reputation and which will deliver to your customers exactly what it is supposed to.

 

If you are heading off to work for a number of weeks or months then there is only one accommodation type that you should be looking for and that is furnished corporate housing. Many businesses will look to place their staff in hotels other private facilities but the reality is that there is no better option when it comes to where you spend your time away. Today we are going to talk about just some of the benefits which you can count on when you choose furnished corporate housing instead of some of the more traditional accommodation options, let’s take a look.

That Comfort Level

Hotels of course do all that they can to try and make you feel comfortable and in the main they do a very good job of this. There is however a limit to hotel stays and anything more than two weeks us just going to become very frustrating. When you stay in corporate housing however you will find that they are furnished in such a way as to make sure that you are as comfortable as you would be at home, or at least as close to that as they can deliver for you. This is why so many look to this kind of accommodation option in particular.

Looking After Yourself

If we continue to look at that hotel comparison we can see that there are plenty more reasons for staying in a private rental. The main reason here is that you are able to take care of yourself when you live in these types of apartments. For example eating in the hotel restaurant all of the time or eating out all of the time can indeed get pretty boring, and sometimes you just want a kitchen where you can knock yourself up a quick sandwich or something similar. The same goes for washing your clothes, it is much easier just to do it yourself sometimes and that is exactly what corporate housing will do for you.

Serviced and Designed For You

These are apartments which have been designed with people like you in mind, someone who is working in an unfamiliar area and someone who is looking to set up shop away from home. For this reason these are not only beautifully furnished but they more often than not have a range of services which they can offer you, that will help you to improve your time there. For example you may find that there are gyms and swimming pools where you can unwind, and in most cases you’ll find that amenities are not too far away at all.

All of this points to the fact that this kind of living is optimal when it comes to your time away and if you are able to find yourself some high quality apartments then you will find that your time working away from home is made infinitely easier and more enjoyable than if you were to stay elsewhere.

 

Prior to the COVID-19 pandemic, one of your main concerns when traveling for business was likely securing a high-quality, luxurious accommodation option for yourself and your party. Now, securing a safe option is high on your list of priorities as well. The good news? A corporate housing provider offers an accommodation option that ticks both boxes, according to travel guru Brian Ferdinand in a recently published article. Let’s take a look at what business travelers can expect when they book corporate housing units this winter season.

Luxury

In the recent article, Brian Ferdinand, the managing partner of CorpHousing Group, explains that business travel can be stressful even for the savvy traveler. In addition, whether your employer has called you to visit Los Angeles, Boston, or Denver, you might encounter the same types of travel-related challenges. Many travelers automatically choose hotel rooms to stay in, but the problem with this type of accommodation is that it can leave you feeling disconnected from your destination city. In addition, if you have to stay in your hotel room for multiple weeks, you may end up feeling a little stir crazy at some point.

Corporate housing firms can help you to overcome the above challenges by offering spacious units that give you direct access to your new city. With this type of accommodation, you can consistently enjoy a more personal, local, and relaxed travel experience.

Safety

In addition to providing comfortable accommodations, leading corporate housing firms are taking their unit cleaning processes seriously during the current pandemic. This is necessary to prevent their guests as well as their staff from contracting the coronavirus.

For instance, you can expect professional cleaners to sanitize unit chairs, sofas, and sofa sleepers/ pull-outs to make sure that all surfaces remain clean. They will also thoroughly clean all hard furnishings in any unit that you book, including not only furniture but also windows, air vents, electronics, mantles, and artwork.

Professional cleaners will also take extra steps to make sure that your kitchen is clean. For instance, you can expect them to completely sanitize drip pans and cooking surfaces, microwaves, and refrigerators. Likewise, floors, cupboards, countertops, drawers, and dishwashers will be fully cleaned to your satisfaction.

Overall, when you choose the right provider of corporate housing for your next business trip, you can feel confident that your home away from home will not only meet but also exceed your comfort and cleanliness expectations time and time again.

To read more on topics like this, check out the Business category

If you are an employer, you will likely send employees on business trips to distant cities over the next several months, or you may require some of your workers to permanently relocate to other cities. Either way, it is critical that you explore all of your housing accommodation options before immediately settling for hotel accommodations. Travel expert Brian Ferdinand recently shared in an article that corporate housing remains one of the best accommodation options for employers when compared with hotels. Here, we’ll take a peek at what corporate housing is and what makes it so attractive to employers and employees alike.

Corporate Housing vs. Hotels

According to Brian Ferdinand, the managing partner of CorpHousing Group, corporate housing offers the best accommodations for employees who need temporary housing, as these accommodations are fully furnished. As a result, with a corporate housing unit, an employee won’t have to waste time setting up furnishings in his or her temporary home, or struggle with the inconvenience of not having a place that is move in ready. This means that your employee can focus more on his or her work assignment, which will benefit your bottom line.

In addition, corporate housing units tend to be less expensive than hotels are over a period of several weeks. As a result, your company won’t have to spend excessive amounts of money on your employees short-term accommodations. This leaves more money in the coffers to spend on other aspects of your workers’ business trips.

Additional Insights into Corporate Housing

As a general rule of thumb, corporate housing is an excellent housing option for any worker who needs temporary housing while completing a work-related relocation. However, this type of housing has especially appealed to government workers, corporate VIPs, and business executives over the years.

When you book a corporate housing unit for an employee, you won’t have to enter a full-year agreement as you would a traditional apartment. Rather, your short-term agreement will likely last between three and six months. This makes corporate housing very different from hotels, where stays are usually no longer than a handful of days at a time.

All in all, corporate housing units shine by offering the types of amenities that you would expect in a hotel or at home but without a hefty cost. As a result, they are a cost-effective and efficient way to provide your employees with the temporary housing they need.

To read more on topics like this, check out the Business category

Last month I was chatting on Skype with a very good friend of mine who works as an executive for the Cumby Group, a high level construction company. I made the comment to my friend that there will be more business and more money-making opportunities for his firm, given that so many smaller companies had been forced to close their doors for good. Now the Cumby Group is a big operation and whilst they have certainly had their fair share of pain in the last 12 months, there is no doubt that they will be alright, and will be able to continue operations.

I was quickly corrected by my friend, who actually spoke worryingly about the risk that these closures has on the industry as a whole.

Loss of Talent

The result of so many businesses which worked in the construction industry closing, is that there are now much higher levels of competition for jobs. Let’s say that you need an electrician for a big project, you will now have 5 options to every 1 that you would have had in the past, which seems like it is a positive. Unfortunately however it will not be long before some of those 5, get sick of applying for jobs which they are unable to get, and eventually they will look elsewhere for work, and may even switch careers. This will result in a loss of talent in the industry which will certainly hurt many companies.

Bigger Demands

Construction is already a highly demanding industry and those who pay for projects want the job done perfectly and with haste, a common gripe of those who work within the construction sector. This, my friend worries, will only get worse in the coming months and years because there are going to be less companies available to carry out the work. The result of this will be a more demanding client who needs jobs done yesterday, before moving on to the next one. Ultimately some more companies in the construction sector could buckle under the pressure of bigger projects and less companies to support.

Using The Smaller Firms

Something which I had never considered until speaking with Paul, was just how heavily companies like the Cumby Group rely on those smaller firms to get the job done. This type of group will take on the project and help to manage the client and they will then utilize up to 7 or 8 different companies to deliver on the construction project. When you consider the construction site you are talking about plasterers, window glazers, bricklayers, project managers, electricians, plumbers and gas fitters to name just a few, these are all recruited from smaller firms and without these firms being in existence, it poses quite the headache for the company which is heading up the project.

As you can see, what may appear to be a benefit on the face of it, is in fact bad for everyone involved.

To read more on topics like this, check out the Business category