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The benefits of independent contractors for small businesses

Posted on March 22nd, 2011 Read time: 1 minutes

A mutual agreement for services rendered between a contract worker and a business tends to be win-win for both sides. The company avoids the expense of paying for employees' taxes and benefits, while the freelancer has the freedom of working whenever and wherever he or she prefers.

This system especially beneficial for small business owners who may be straining to stay afloat in the fledgling economy. The addition of an independent contractor to the team saves on overhead costs, such as health insurance, that some companies can ill-afford to pay, says Inc.

According to USATaxAid, companies save an average of 8 percent by employing independent. In addition, these savings do not end with circumvention of benefits.

Since freelancers aren't present at an organization's physical location everyday, the cost of supplying them with a company machine is also avoided, notes Business News Daily.

Furthermore, the website mentions that businesses are under no obligation to train contract workers. Sidestepping a strenuous training process means more immediate results for the corporation as well as creative flexibility and gratification of timely payment for the contractor.  

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