business trips

A Third of SMEs Waste Money on Business Trips

A third of small firms are wasting money on staff business trips by failing to shop around for the best deals on travel and accommodation, event management firm BSI has warned. The research from BSI revealed that 33 per cent of small firms do not negotiate the best rates they can on staff business trips, and 48 per cent do not set employees a budget for accommodation. “Our research shows that, due to limited understanding, apathy or misconceptions, a large number of SMEs are not following best practice procurement when buying and booking overnight accommodation, meetings and events, a fact that is likely to be causing them to waste significant time and money,” said BSI managing director Trevor Elswood. “With margins tightening, SMEs are facing even greater budgetary and r... »