How to Slash Your Business Travel Costs

Reduce business travel expenses with these suggestions

If you’re running a small business, you’ll know that it can sometimes be mightily expensive, especially if you travel a lot. What’s more, companies, unlike the general public, don’t pay regular fares when they travel.

Instead, they are encouraged to pay “business rates” far above the prices that everybody else faces. It all makes travel prohibitively expensive and can wreak havoc with your finances.

Small business travel will eat into your budget, unless you find effective ways to reduce your business travel expenses and look for alternatives. (Image: Pixabay)

On top of this, inflation in the transport sector is rife. According to the management company Travel Leaders Corporate, the costs of flights was $8 higher in 2016, and the average hotel room cost was up more than $3.

So the question is, how can businesses save costs on their travel?

Schedule Your Travel Wisely

Business travel rates vary depending on seasonal demand. When seasonal demand for travel services is high, like during the summer months, prices for flights and car hire also tend to be a lot higher as well. Prices are higher at the end of March and beginning of April too, thanks to the Easter break. If you can, schedule your travel for the weeks before and after critical times and save yourself a bit of money in the process.

Move Your Office

Another thing you might want to consider if you make regular trips is moving your office closer to a location you travel to regularly. There’s no point being located in one part of a city if you’re making daily or weekly trips to another place on the opposite side. It’s costing you money for no reason. Find an office relocation service if you want to minimize the associated hassle of moving. You never know, rents might be cheaper at your new location too.

Take Advantage Of Reward Programs

If you must travel on business, look for the less costly options and take advantage of reward programs, to maximize return on the money spent. (Image by Max Pixel)

Almost every hotel and airline has some sort of reward program that you can sign onto offering either free rooms or free air miles. The good news is that these reward programs are usually better for businesses than they are for private customers, given how lucrative it is for the hotel and transport industries to gain long-term corporate customers. When you’ve got dozens of people working for you and traveling regularly, you can often save thousands through reward schemes.

Look For Alternatives

Flying to major airport hubs might be convenient, but it’s also more expensive, owing to the increased demand on their facilities. It’s often cheaper to fly to an airport a little way out of town and then get a coach into the city center, avoiding high landing costs.

You can also consider alternative modes of transport other than flight. For instance, would it be cheaper to get the train instead of an internal flight? In some countries, train fares are a lot cheaper, especially if you book them in advance.

Sweat The Little Things

Small, incidental costs soon add up, so ask yourself whether you’re giving yourself the best deal. Is it cheaper to take regular Uber cabs, or does it work out better for you to rent a car? Is it cheaper to pay your hotel for internet or use your phone as a hotspot? Follow some sense tips for travellers to save more money.

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