Once a small business gets established, it may be time for employees to start to travel. Moving around the country – or even the globe – presents a whole new set of opportunities for a company.
However, it also presents a few challenges. A financial plan should account for the monetary impact that travel will bring, but the rewards are still numerous. The better prepared a small business is, the more likely new partnerships and deals will happen.
A rise in corporate travel
More businesses have been traveling as of late, according to the New York Times. Despite economic factors that could get in the way, a number of companies still want to send their employees on the road.
Financial tips come in a variety of types, but a great budget is a must. When it comes to travel, planning ahead is the best way a small business can get the most reward. Every trip needs to be necessary, as hopping from one coast to another without a good reason could be a waste of money.
"More businesspeople are traveling, but companies are being tighter with their budgets," Henry Harteveldt, founder of the Atmosphere Research Group, told the news source. "Travelers increasingly have to justify their trips, and trips have to be approved by more managers. They have to perform the equivalent of a return-on-investment analysis before they book."
Mobile technology is a big plus as well, the NYT noted. A small business could improve the more travelers take advantage of mobile banking and other technology. An increase in corporate travel could be directly related to how easy it is for employees to work on the move.
Tips to travel effectively
A small business can gain a lot by traveling, but there are a few good steps to employ before buying the first plane ticket.
For example, the anxious traveler should get plenty of rest before leaving, according to Entrepreneur magazine. Packing is important, and items like phone and laptop chargers – as well as personal documents – need to be nearby. The more battery life each device has, the easier it will be to get work done on the go.
In addition, the traveler should have plenty of business cards. New relationships can form at any moment, and the other people sitting on the plane might turn into valuable partners or customers. Therefore, business cards should be on hand, ready to give out at a moment's notice.