To help your small business expand without damaging its bottom line, this week Axis for Business reveals five ways to save money on business travel.
You Have to Make Money to Have Money to Save
As an energy and telecoms provider, which strives to save small businesses money by looking for the best deals out there, Axis for Business understands the importance of business travel. After all, you have to make money to have money to save.
Yet business travel comes with its own sets of cost – i.e. cost of plane travel, accommodation etc. If you let them, these costs could end up lowering your company’s bottom line more than they raise it, which is why you should always look for ways to save money on business travel.
Use These Five Tips to Save Money on Business Travel
If you don’t know where to start, let Axis for Business lend a helping hand, with the following five ways to save money on business travel.
1) Take Advantage of Tax Relief: Under UK law, you can get tax relief for business travel and subsistence costs, which is deducted from your taxable income. This will lighten the financial load of business travel.
2) Opt for Business Class: There are few real advantages that come with flying first class, as opposed to business class. You can still prepare for any major meetings and you’ll save money on the cost of travel in the process.
3) Shop Around: As with consumer travel, you can save serious cash by shopping around for flights. Go with a low cost airline and save serious money on your company’s bottom line when you travel for business.
4) Fly from Regional Airports: Here it’s a case of supply and demand. Often, flights from airport such as Heathrow cost more because demand is greater. Therefore, if you want to save money, try to find a flight from a regional airport – especially one close to you, to reduce the cost of getting there.
5) Fly Indirect: It may seem like a nuisance, but you should always try to fly indirect when you travel for business. It often costs less, which can save a lot of your company’s money when travelling for business purposes.
Apply the Same Methodology
When flying for business, just applying the same methodology you would to any other area of your business model. That way you are sure to save money on the cost of flying for business, so that you can use this opportunity to expand, rather than contract, your SME’s bottom line.