How to cut down on business travel expenses

Category: Business

Do you travel a lot for work? Those expenses can really add up, especially if you’re just starting your small business and you’re trying to cut down on company expenses. The following tips can be beneficial for budget travel in general, but can be particularly helpful for those traveling for business purposes:

Take the red-eye

Red-eye flights are often a lot cheaper than other flights, and can also work well for a business traveler. They can allow you to schedule meetings throughout the day, and even business dinners in the evening. And because red-eye flights usually land very early the next morning, they can give you the opportunity to return to work the same day.

Combine trips when it makes sense

If you have multiple business trips coming up and within a short timeframe, try to combine them if it makes sense with your schedule and if ticket prices are cheaper. This can be especially cost-efficient if you live in a small town or city, and not near a major airport hub. If you fly back home and then fly out of a smaller airport again, just to connect in a larger city, you’ll likely pay a lot more and waste more time. But if you’re flying from one large city to the next, flights are often direct, quicker, and cheaper. 

Conventions

If you’re traveling in order to attend a particular convention, try to buy your pass as soon as possible. Convention tickets can easily cost hundreds of dollars, but early bird specials can save you a lot of money. If you wait for the last minute, you don’t only have to pay top dollar, but you run the risk of the convention selling out. And if you’re traveling somewhere for another purpose, make sure there isn’t a big convention going on during your travel dates—otherwise, you might want to reschedule. Airfare and lodging tends to be more expensive when there is a big event or convention going on, so unless you’re attending that convention also, you might want to travel at a different time.

Company credit cards with travel perks

Whether you’re using a company credit card or you’re footing the bill yourself, opt for a credit card that offers travel rewards and perks, if you don’t use a credit card like that already. The points you rack up for your purchases and reservations can eventually be redeemed for discounted (or even free) travel, which you can later use to help pay for other business trips.

Avoid travel altogether

Advancements in technology these days make it possible to meet with just about anyone around the world, and at any time. Determine the reason why you need to go on a business trip and ask yourself if it can be avoided, especially if it will cost a lot of money. If you just need to meet with someone face-to-face or give a simple presentation, you may be able to accomplish this easily with live streaming video chat—without ever stepping foot out of your office.

 

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Nothing above is meant to provide financial, tax, or legal advice. You should meet with appropriate professionals for such services.

Tags: business travel, travel

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