Successful Business
The distinction between “employee” and “contractor” is important for a number of reasons. For the person engaging the services (let’s call them the “Principal”), it means the difference of whether or not they accrue and pay leave, make superannuation contributions, withhold income tax and make decisions about termination with relative ease or not.
Cutting your administrative charges (also known as “selling, general and administrative expenses”) is a good way to increase profit, especially when the company is having a difficulty in increasing its sales. Review your internal policies and procedures and identify procedures that cost money and figure out ways to save some money. In the long run, your savings from this aspect will help your company achieve financial growth.
