SMEs unaware of business travel costs

15 June 2008
More news

16 June 2008 | Jake Kanter

Over half of small and medium size enterprises (SMEs) have "no idea" what their annual business travel costs are, according to a study.

A survey of 252 businesses found 53 per cent are unaware of the amount they spend on accommodation every year. In addition, 34 per cent suggested following a proper procurement process when purchasing travel is not a priority for their business.

Nearly half - 48 per cent - of the SMEs said they don't set a budget for accommodation, while 29 per cent do not assess additional costs such as taxis, meals and telephone charges. It was also revealed 33 per cent don't negotiate to secure their preferred booking terms and costs.

Trevor Elswood, managing director of travel management firm BSI, which published the survey, said a large number of SMEs do not follow best practice procurement when buying and booking accommodation, meetings and events. He added businesses should consider using online booking systems to avoid wasting "significant" amounts of time and money.



SMjun2008

LATEST
JOBS
Swindon, Wiltshire
upto £40K base (+ Paid overtime and corporate benefits)
Honda Manufacturing Ltd
Kew gardens, Richmond upon Thames, London (Greater)
£37,000 - £42,500 per annum pro rata, depending on skills and experience
Kew Royal Botanic Gardens
SEARCH JOBS
CIPS Knowledge
Find out more with CIPS Knowledge:
  • best practice insights
  • guidance
  • tools and templates
GO TO CIPS KNOWLEDGE