Daily Buzz: How to Save Money on Business Travel
This one tip could save your budget
There are always areas in your organization’s budget where you can pare down on spending, and travel is a big one. If you know you have an upcoming conference out of state, for example, why wait until the last minute, when flights are most expensive, to book your reservation?
In fact, research from Hipmunk, a travel planning platform, shows that small-business travelers tend to book flights later and at a higher price than those booking trips for leisure—and that just by booking six weeks before travel, they can save up to $200 per domestic flight.
“Smaller companies’ travel budgets often fail to account for the full cost of travel—which can make a huge impact on a business’s bottom line,” said Christal Bemont, who manages the small, mid-sized and nationals business unit at travel management company SAP Concur, in a statement. “But by utilizing a few tips… small businesses can optimize their travel spend and keep their financial goals on target.”
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