The success of a small business depends on several crucial items, such as a strong financial plan and the ability to connect with clients all over the country – or the world.
In fact, a company that can't travel efficiently and effectively may be left in the dust of its closest competitors. This is based on information found in a recent study, conducted by Expedia.com, which included more than 7,000 small-business employees. The results highlighted the importance of travel for such a firm, and showed that any cash invested here should be considered money well spent.
Business travel is a sound expense
Across the country, many entrepreneurs may be concerned that spending on travel isn't the best idea during the early stages of a small business. But, based on the Expedia.com survey, it can actually be crucial to the overall success of the venture.
Expedia.com noted that 52 percent of respondents believe that travel is very important to the prosperity of their companies. Priorities when planning travel for work include getting the most value, an easy booking process and acquiring low prices. In addition, mobile devices often play a large role when making travel arrangements for a small businesses, as 54 percent used smartphones and 33 percent used laptops at this time.
Overall, travel is a significant part of a venture. Expedia.com reported that nearly a quarter of respondents travel 11 to 20 days out of the year for work, and that investing money here can pay off greatly for a small business.
Find any available discount
When it comes time to adjust a financial plan to account for business travel expenses, it may be necessary to shift focus and find some creative ways to cut costs while still getting employees across the country in comfort.
Ilana Greene wrote in a blog post for Business Insider that looking for any available discount is the first step toward saving money. Corporate deals are offered in many locations, such as at a hotel or an airline. The best part about these is that the size of the company doesn't matter. Working with a travel agent can also provide connections to more places to save.
Moreover, Greene explained that building up rewards can be another great way to save money. For example, frequent flyer miles can cut costs for airfare, and many car rental agencies offer rewards as well. Building these up over time can result in a more efficient travel plan for any small business.