What happens if a permit expires before the work is finished?
If a building or construction permit expires before the work is complete, the project must stop -- and starting again requires a new permit application. The practical costs are significant: idle crews and equipment still on hire, a new application fee, potential re-review under any code changes since the original permit was issued, and delay to the project timeline. In some jurisdictions, uninspected work already completed must be re-exposed for inspection (opening up walls, for example), which adds demolition and rebuilding costs.
For business operating permits with a fixed expiry, the consequences are more immediate: the business must cease the permitted activity until the permit is renewed. Event permits that expire before the event ends can result in the event being shut down by authorities on the day.
The key is noticing a permit is about to expire before it does -- not after. A 30-60 day warning gives time to apply for an extension or renewal while work continues.