Engaging with corporate travel service providers is a big consideration for many small and mid-sized businesses in Canada. Yet when the right practices are in place, it can be a huge boon to the bottom line. Canadian businesses often use corporate travel management services to maximize efficiency, lower overall costs associated with travel, manage risks and get the most return on investment. This added convenience and specialization allows business owners and management to focus on more the important aspects of success.
Corporate Travel as a strategic investment
You might have heard how companies with a strong travel culture are more diversified. When it comes to business, first impressions matter. How you present yourself and your company to potential clients and partners can make or break a deal. That is why corporate travel is such an important strategic investment. It allows you to put your best foot forward, build relationships, and close deals.
Whether you are attending a trade show, meeting with suppliers, or visiting customers, corporate travel allows you to do business in person and build relationships that would not be possible over email or phone. If you are not already incorporating corporate travel into your business strategy, now is the time to start. The benefits of corporate travel are too great to ignore.
Here are some noteworthy benefits of corporate travel:
When employees are given the opportunity to travel for work, they often return to their desks more productive than before. This is because traveling provides a change of scenery and a new environment in which to work. In addition, corporate travel often allows employees to network with other professionals, exchange ideas, and learn new skills. As a result, corporate travel can be an invaluable investment for any business.
Access to new markets
A corporate trip can be a great opportunity to open up new markets for your company. By meeting with potential partners or clients in person, you can forge stronger relationships and lay the groundwork for future business deals. With the addition of some careful planning, you can make the most of your time and maximize your chances of success.
Corporate travel is tax deductible
Travel expenses are among the most commonly deducted business expenses. You can deduct the cost of getting from point A to point B on a business trip regardless of how you get there.
Airline tickets, taxi bills, hotel-related stays, meal premiums, and rental car expenses are all fully deductible within the CRA’s scope of taxation. A good corporate travel agency will help you account for, and delineate these expenses in their reporting.
Business travel can help you build relationships
When you are able to meet with clients face-to-face; it allows you to build a stronger relationship with them. You are able to get a better sense of their needs and what they are looking for from your product or service. When they see that you are willing to invest in meeting with them in person, it shows that you are serious about doing business with them.
Tips for Successful Business Travel in the Post-pandemic Age
Corporate travel is an important component of doing business that involves a lot of communication and coordination. Business travel has changed post-pandemic as companies around the globe get back to international business travel.
Here are some ways to ensure the success of your next corporate trip:
Get vaccinated and tested
In the post-pandemic era, it is of utmost importance to plan your trip around changes announced by governments. The best way to prevent unexpected hiccups is to ensure that you or the employee who is travelling for business purposes is fully vaccinated and goes through the mandatory COVID-19 testing regulations set out by the specific country of visit before their journey.
Make sure to track the status of travel restrictions in the country/countries that you plan to visit.
Stay connected with your office
Communication with your office is of utmost importance on corporate trips. The best way to do this is by using collaborative tools. Slack, Google hangouts, and Microsoft teams are some of the popular services that allow for real-time messaging and video chatting to stay in touch with your coworkers.
In this age of technology, you can utilize cloud storage solutions to store and share documents electronically, which is a great way to stay connected with your office and keep documents handy.
Setting up a VPN Is one of the best ways to make sure that your connection to the office is secure, no matter where you go!
Check our Resources Hub
Last but most importantly, make use of our resources hub to navigate this ever-changing world of corporate travel!
By using a Worldgo Corporate Travel Agent, businesses can be assured that their employees are being taken care of and that their travel plans comply with the latest guidance on COVID-19.
A few commonly asked questions
What is a corporate traveller?
A corporate traveller is any employee or business owner who travels with the primary motivation to conduct business for their company. This can include travelling to a conference, client meetings, or site visits.
Are business travel expenses tax deductible?
Business travel expenses are tax deductible and can include expenses like airline tickets, taxi bills, and rental car expenses as well as out-of-town lodging and meals. Make sure to hold onto your receipts as proof of your expenses incurred.
What is corporate travel vs leisure travel?
Corporate travel vs leisure travel can be differentiated simply as wants versus necessity. While corporate travel is more limited to individuals who travel for the sake of work commitments, leisure travel is focused on recreation, entertainment, and tourism activities.