UK small firms are putting in more miles travelling than ever before, mainly due to business expansion, new research has revealed.
A survey by Barclaycard found that 45 per cent of small businesses had increased the amount they travelled in 2003, with only a quarter putting in less miles compared with the previous year.
The main reason for greater amounts of travelling was business expansion, with 29 per cent of entrepreneurs on the move in order to enlarge their mini-empires.
A further 27 per cent said that they caught extra flights or trains to expand their business overseas, 20 per cent said they went to generate greater sales while four per cent attended extra conferences.
The survey makes further good reading in terms of the economy, with the rise in travelling suggesting that small businesses will enjoy a healthy period of growth in 2004.
The rise of low-cost airlines aided the surge in travelling, with 68 per cent of bosses using Ryanair or Easyjet last year – a 17 per cent increase on 2002.
A massive 94 per cent said that they would use budget airlines to travel in the future.
However, although travelling is considered healthy for the bottom line, long hours spent on trains and planes is having a negative impact on jet-setting entrepreneurs.
The survey found that the average boss spends 3.2 hours a week in traffic jams, while 42 per cent have missed meetings and one in eight have lost business due to clogged roads or train delays.
The average small business employee now spends 4.2 nights away from home a month, one day per moth more than 2002. More than six in ten respondents said their family life had suffered due to the number of hours spent travelling.
Simon Chick, of Barclaycard, said that the survey’s findings indicate an encouraging year for the small firm sector.
“Small business travel continues to increase, while the popularity of low-cost airlines demonstrates that business travel costs need not expand as the business does.
“However, the survey also reveals the significant impact of business travel on the lives of small business employees.
“While it pays to keep a close eye on the professional costs of business travel, it is important not to lose sight of the personal sacrifices made,” he said.