As we transition back to a new post pandemic world the hope is corporate travel will return. Although meeting remotely has served business well during the crises, it may not often be as impactful as meeting a person face to face.  

Corporate travel is an essential component for many small and medium industries particularly those with ambitions to scale. It is an effective method to acquire new investors, clients or to find the right manufacturing facility to produce your product. 

This is reflected in the sector recovery as SMEs corporate travel has held out during the pandemic and is bouncing back faster. IHG Hotels and Resorts reported that although SME business travel remains depressed, it was down 15-25 percentage points less than enterprise or corporate travel.

Your SMEs travel policy doesn’t have to be documented but it is even better if it is. Having a written travel policy allows you to:

• Share it with existing colleagues
• Include it in the welcome pack for new joiners
• Review if the parameters set become outdated 

Your SME travel policy should include:

• Approval and booking procedure
• Allowable costs for transport and accommodation
• Preferred businesses or vendors
• Expenses policy
• Travel insurance details
• Health and safety and duty of care information

Although small businesses may believe corporate travel agents are too expensive, this is not always the case. There are many benefits to engaging a travel expert, particularly for SMEs with complex travel needs as they can:

• Suggest alternative routes
• Offer advice on visas
• Help find unadvertised discounts

If a travel agency would not work for your business, there are some hybrid alternatives that may be effective. Some online offerings have created digital travel management solutions powered by artificial intelligence geared to SMEs.

If your SME is doing a lot of business travel, don’t forget to ensure your employees can access emergency medical care while they are away. We have international health insurance tailored to the unique needs of small and medium businesses.