How to Travel for Business on a Budget

Travelling for business on a budget is possible. It’s one of the most important aspects when planning a business trip away. From estimating the total trip expenses to researching the best hotel in the area and opting to use cheaper public transport travelling with little money is doable.

Business team travelling together

Prepare the visa requirements

This is not related to a budget, but as it costs your business money, I think it’s only logical to put this tip on top of the rest. Whether you like it or not, there are not-so-interesting-but-must-do things you need to address before you travel. One of them is the visa reqirements, which may vary from one country to another.  For example, if you’re looking to travel to the likes of the America for business, you need to find out what an esta visa is and how it makes travelling into the US easier.

Establish a budget

Your business budget should comfortably cover you core business expenses. In tough times, corporate travel can be dismissed until possible again. Unlike travel, you can’t dismiss the fee of your office rent or go without paying your employees, so before you set aside a large sum of money dedicated to business travel consider those costs first. If you don’t, your business could become exposed to multiple risks.

Create an official travel policy

Your official business travel policy should underline the terms used to approve travel expenses. Although most employees are considerate of these fees, others use the open door as an opportunity to take advantage of the business and its money. Whilst some dine in expensive restaurants throughout their trip, others dine for less in restaurant chains.

You should vary based on location. London and New York and two very expensive cities compared to the likes of Las Vegas.

Meeting at serviced office

Test virtual meetings

There are more ways than ever business can connect around the world. With the likes of Skype for Business and video becoming increasingly popular, your employees need not move from their desk. Although the initial fear and discomfort of hosting a video call may be daunting, acquiring the skills to host a talk effectively comes naturally.

The more employees use these kinds of services, the better they will become. Why not host internal training programs, including seminars, to help employees familiarise themselves with how the software works.

Collect data of the costs

Travelling for business on a budget can be challenging. Some businesses don’t truly understand the purpose behind them whilst others resent these kinds of opportunities altogether. Whether or not your business approves of travel for business, soon enough they will get to grips with the value adds to the company. Everyone who travels on behalf of your company should be asked to detail their trip’s per diem on return and complete an expense form.

Moving forward is made easier by understanding the past and being able to justify the cost-benefits of travelling for business.

Track and control travel expenses

Decide how and where travel expenses of your employees will be spent. Just because your employee is travelling in standard airplane seats, economy rental cars and staying in not top of the market accommodation, doesn’t affect the purpose of your business trip. Ask your employees to use less expensive modes of public transport and shuttle buses where they can rather than relying on taxis.