There is a unique difference between business travelers who own their own small business and those who are part of large corporations.
Small business owners pay all of their own bills, they even pay for their own business travel costs, whereas corporate travelers are often backed by company expense accounts that cover all of their business travel costs. What that means is that small business owners have a lot more to take into account when travelling. A good travel budget is one of those things. So let’s help you to manage your small business travel costs with a few tips
1. Develop a firm business travel policy
A good travel policy goes a long way in providing precise guidelines to the employees of a company on the amounts of allowable expenses in different destinations, the compensation for expenses as well as the limits that require authoritative consent or signature. It is important for the policy to contain clear steps that will be taken should any of the conditions be violated.
Compare deals for better bargains
There are a number of popular websites that give you the freedom to compare flight tickets/hotel/rental prices such as Hipmunk, Expedia, Lastminutetravel.com, and Travelocity. Finding the best business travel package has never been easier and neither has saving money. Nothing compares to that.
2. Choose the latter option
If you have ever thought that volunteering to be moved to a later flight, because yours is overbooked, is a bad idea, you might want to rethink that. On the contrary, there are quite a few perks that airlines offer to passengers that opt to be moved to a later flight. Travel vouchers are one of the frequent perks, which can really save you a lot of money. Perhaps your flight schedule might not be so flexible as a business traveler, but just in the option to either to stay in your overbooked flight or to move to a subsequent flight comes up, choose the latter option, you might just get a free ticket.
3. Become a member of your preferred airline’s frequent-flyer program.
What are the perks of having your very own frequent-flyer membership? Airport club access, hotel discounts, travel vouchers are just a few of the benefits that you will receive for remaining brand loyal to your airline when you book your flights for your business travel.
4. Create a standard reporting system.
Create a standardized system of reporting expenditure. That way you will be able to make sure that every report is accurate and that records will be easily interpreted by auditors and accountants.
5. Hold virtual meetings
In the new age of business we’re in, the world has basically turned into a global village. And let’s face it, virtual meetings can really save business people from all of those travel costs plus it allows them to spike up their productivity and image. Videoconferencing and teleconferencing are the new channels for going global without even having to cross a border.
6. One corporate credit card for all of your trip’s expenses
It’s time to simplify your business travel expenditure and your bookkeeping by using one credit for your travelling. You might even earn a few free airline miles along the way.
Also, a corporate credit card can offer some protection against unforeseen travel incidents. Employees who choose to carry or use a corporate card for business expenses lessen the likelihood of endangering their personal information.
7. Look out for fare and networking conference discounts
Event planners usually bargain with local hotels to provide good discounts to attendees. Try to find out whether the event planners of conferences that you will be attending will have negotiated for discounted rates for all those attending. Enjoy the discounts.
8. Use a roaming solution for your business travel
Did you know that international roaming charges are still the biggest hassle for both business and leisure travellers? Although there are alternatives to avoiding roaming charges such as connecting to Wi-Fi spots, using hotel room phones or even buying local phone cards, most of these options tend to come with a few inconveniences too. Roaming specialists like Flexiroam Limited offer roaming solutions to business travellers at rock bottom flat rates. You can make and receive unlimited calls to/from a single or even multiple countries without any extra charges and save up to 95% of your phone bill during your business travel. Goodbye roaming charges!
9. Make tax deductions work for you
Business travel expenditure falls under business expenses, therefore they can be deducted. So if your purpose for travelling is business, the all of your business related purchases will be deducted.
10. Negotiate for better deals for accommodation and travel.
With the rise and influences of small micro and medium businesses in today’s market, many travel related businesses are now negotiating with these businesses to provide them with unique discounts and lodging deals. Make sure your business does not get left behind
Finally, you can focus on expanding your business without the worry of catching up with travel expenses.
Roaming charges are still most notably the biggest hassle for overseas travelers. Fortunately there is a way to get rid of any roaming charges, make and receive unlimited calls from all over the world and even use local mobile number while you are overseas. Want to know more?