Sending your employees to attend business conferences, trade shows, seminars and other small business-related events can be very beneficial to your business. However, it can incur considerable travel expenses.
If your company has a tight travel budget, you can take certain measures to keep your travel expenses to a minimum.
Below are a number of things that you can do to reduce your small business travel expenses…
Importance of Sending Your Employees to Business-Related Events
Business conferences, trade shows and other business-related events provide excellent opportunities for your employees to meet and establish contacts with potential customers, suppliers, competitors and members of business organizations.
Such interactions can result in new business opportunities, valuable feedback and acquisition of new knowledge and skills.
Additionally, your employees can learn a lot from the speeches, lectures and presentations that are given by business experts during conferences and seminars.
In trade shows, they can interact with customers to generate more interest in your products and gain a better understanding of their needs and preferences.
Attending business-related events also gives your employees the chance to observe your competitors’ products and business strategies, and look for potential partnership opportunities.
How to Save On Business Travel Expenses
Create a Travel Policy
Create a travel policy with clear guidelines for employee travel and distribute it to all your employees. The policy should include booking guidelines, travel budgets and expense allowances.
Designate or Hire a Travel Coordinator
Having one employee to manage all your company’s travel arrangements can significantly reduce your travel expenses. A travel coordinator will know how to find the best deals on flights, hotels and car rentals, since booking travel is his or her main responsibility.
Find Cheaper Accommodations
Nowadays, there are many three-star hotels that have been revamped to better accommodate business travelers, and they cost significantly less than higher-end hotels. Most of them offer free breakfast and Wi-Fi, as well as amenities such as business centers and meeting rooms. You can also save money by opting for alternative accommodations such as apartment hotels, corporate housing and others.
Take Advantage of Credit Card Sign-Up Bonuses
According to an article entitled “How to Plan a Trip You Think You Can’t Afford“, you can save substantially on travel expenses by applying for one of the credit cards that come with sign-up bonuses. Some of these credit points can be used to book flights and hotels at discounted rates.
Book in Advance
The prices of hotels, flights and rental cars usually get higher as you get closer to the date of travel. If possible, try to book them well in advance.
Book Rental Cars with Smaller Brands
There are many car rental companies that offer lower rates than major car rental companies. They may not be located at the airport, but most of them provide complimentary shuttle service.
By doing some research and practicing money-saving options, your small business travel experience could end up saving your company a substantial amount of money the next time you book travel for yourself or your employees.
About the Author: John McMalcolm is a freelance writer who writes on a wide range of subjects, from social media marketing to running a small business.