How to Minimize Business Travel Expenses

How to Minimize Business Travel Expenses

Business travel is inevitable to every business whether you are a start up company or a multi-million dollar company. It is part of every companies expenditures but with proper strategy and planning, it can be the great venue for new projects and revenues. Small business owners are one of the most commonly affected by business travels because they don’t have much of a budget to cater to all these expenses.  So, how to minimize business travel expenses is now more difficult than ever. However, in every difficult situation, there is always a simple solution.

Here are some of the few simple ways to reduce the cost of your company’s travel expenses.

Planning

First, plan on how many business trips in a year that your company is expecting to have. Write and implement the details to your employees ahead of time so that they will know the do’s and don’ts when they are on a business trip. Simply outline the expenses they need to make starting from taxi fares to hotel accommodation, so they will not spend more than the proposed budget because they already know that the company will not pay anything in the excess of what is listed.

Get receipts

Before you do a reimbursement, always ask for the receipt as a proof of their purchase to solidify the expenses to see if it matches with the report. Double-check the reports submitted to avoid misunderstandings.  Since, this is a planned business trip, shop around ahead of time for good packages and promo deals. This is one of the best and simplest ways to cut that travel expenses by booking with a travel agent. You can also get a good package deal that has free accommodations or free car rental which makes even easier for your employees because their itinerary is already set.

Two birds one stone

If you can set two appointments in one trip that would definitely help in cutting your expenses.  In almost all companies, no matter how you plan your business trip, there will always be unforeseen events that we are not in control of, overbooked hotels or rental cars that are unavailable. With the situation like this, there’s no need to panic because there are lots of online sites that offers last minute packages that are even right for your budget. You can have additional freebies like free car parks, breaks on hotel accommodation or on car rentals.

Business travel need not be expensive as long as you are resourceful in planning your trips. You can have a wonderful business travel experience without compromising comfort. All you need to do is be smart in looking for savings in through some online booking sites or with an agent.