It can be tempting to shave a few dollars off short-term costs, thinking things will add up to more money saved in long run. In doing so, contractors actually raise risk and that can result in irrecoverable damage to a business. So reports Constructor Magazine.

There are four “hidden risks” you’ll want to stay on top of:

• Don’t assume your personal assets aren't vulnerable to a business lawsuit
• Don’t write your own contract—rely upon the appropriate legal professionals to implement waivers and contracts.
• Don’t go cheap on appropriate insurance coverage.
• Don’t fall behind on safety requirements to prevent--and appropriately respond to--on-the-job injuries.

Read the full article from Constructor Magazine.