Small Business Glossary and Definitions

Outsourcing is when a company sends certain jobs out of the company to a contracting individual or company. Sometimes people use the term outsourcing to refer to sending work overseas or out of the country, but the term applies to any task done on a contract basis, even when the work is completed locally. Outsourcing is a good solution when it is less expensive or easier to hire someone outside a company to complete a task than it would be to have the work completed in-house or with the current company talent.