Small business owners spent 60 percent more time holding their mobile devices than holding the hand of a significant other according to survey results from Staples. Yes, smart phones really have allowed work to invade every minute of our day. But that’s not all bad. Actually for small businesses who are embracing the new technology, […]
When it comes to managing travel and related expenses, I find many small business owners are much like me. They don’t have formalized travel policies or a streamlined process. Plus, the majority of us manage our travel expenses by filling out reports manually and stapling receipts to them. Often we forget something or just fail to submit a report at all. That’s just not good business.
Despite the sluggish economy, small businesses are picking up the pace of business travel. Business travel is a significant investment for small companies so therefore it is important to ensure you get a strong return on your investment. According to the Oxford Economics, USA study, every dollar spent on business travel in the U.S. results in incremental revenue of $12.50 on average. While that may not be achievable for all small businesses, it demonstrates that business travel when managed effectively can enhance your bottom line.