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Small Business Starting to Spend More on Travel Again
After scaling back during the recession, four out of 10 employees at small and midsize businesses expect to spend more on travel this year.
Posted 6/ 3 11 at 10:00 AM | News, Money, Business Travel
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During the recession, many small businesses reported cutting costs in the area of employee travel expenses. However, that's beginning to change, according to a new survey by American Airlines.The online survey, which included more than 2,600 employees of small and midsize businesses, found that four out of 10 anticipate their business travel to increase over the next 12 to 18 months. That finding corresponds with 72 percent of respondents who said they believe their company's economic outlook will also improve over that time.
Despite rising fuel costs, the survey also found that on average, companies spend anywhere from 10 to 24 percent of their annual budget on travel expenses.
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