How SMEs can Benefit from Serviced Apartment Management Companies

Business travel is as important to small businesses as it is to larger organisations. The ability to attend events and trade fairs, as well as meet clients, partners, suppliers, investors, and stakeholders face-to-face strengthens relationships and fosters ideas and knowledge-sharing.  

This is vital to SMEs (small-to-medium-sized enterprises), especially after months of lockdowns and economic disruption. 

The pandemic hit small businesses particularly hard, and although video conferencing and collaboration tools were used as successful stand-ins to an extent, the importance of in-person contact time cannot be overstated. Small business travel, therefore, is a crucial part of any SMEs business operation and recovery and growth plan. 


What Exactly do We Mean by ‘Small Business Travel’? 

SMEs might need to travel for a variety of different reasons. Here are a few examples of small business travel: 

  • To attend events and conferences 
  • To deliver press or interviews
  • To attend seminars and meetings 
  • To exhibit at trade fairs 
  • To give in-person presentations or talks 
  • To source products and meet suppliers 
  • To attend training and other educational activities 
  • To participate in company retreats or away days. 


The Difference Between Small Business Travel and Business Travel for Larger Corporations 

Where global organisations might send several business travellers on a business trip at the same time, SMEs may only send one or two. Big companies tend to have bigger budgets, focus more on risk management and use a dedicated travel manager or corporate travel agency to book their business trips. 

Although SMEs usually have smaller budgets for business travel, they often end up spending more, in relation to profits, than larger companies. It’s therefore imperative that SMEs get on top of their travel planning.   

This is where myresidence can assist small businesses to arrange cost effective accommodation solutions in our large portfolio of serviced apartment stays across the continent of Africa. Due to our long-term relationships with our property partners, we can get you better prices to suit your budget and unique needs over multiple jurisdictions.  These serviced apartments cater well for those traveling together to share serviced apartments which reduced accommodation costs and an option to eat in instead of eating out for the entire stay. 

Another challenge SMEs have with small business travel is keeping an overview of where their business travellers are located, and what the various safety implications and health regulations are for each place. Businesses have a duty of care towards their business travellers’ safety and well-being, whether they are in the office or on the road. Small businesses must abide by this just as much as larger organisations. 

If there is an emergency or travel disruption when business travellers are working away, SMEs need to be able to react quickly and provide support for their business traveller. If they do not know exactly where they are and what their itineraries are at any given moment, this can prove difficult. Without having all the necessary business travel data easily accessible in one place, small businesses can lose track of business travellers’ whereabouts and unwillingly put their safety and well-being at risk. 


This is where myresidence can support small, medium, and large businesses with managing budgets for their business travellers. They cover the entire African continent for serviced apartment long-term stays for your team. 


What Other Risks do SMEs Face by not Using an Accommodation Travel Solution Provider?

Booking a business trip can be an expensive and time-consuming process.  

It can take a person an average 10 to 13 hours to book an entire business trip, going through suitable flight and accommodation options that fall within the budget. 

As well as the potential risk of duty of care towards business travellers while on the road, SMEs might also risk business travellers overspending on accommodation, car rentals, and flights, or getting confused about what constitutes a travel expense and what qualifies for reimbursement.  

Business travellers often book their business trips however they want, and then submit their receipts at the end, sometimes with a higher price tag than expected.  

All this can cost a business, both in terms of time and money, as well as in administration resources. It is for this reason that companies large and small employ a variety of business travel solutions to help organise company trips.  

Myresidence can help both your business traveller and company mitigate these risks before unnecessary expenses take place. 


The Best Way to Save Money on Your Small Business’ Serviced Apartment Travel Arrangements in Africa

Using a trusted serviced apartment travel management company like myresidence is the best way to not only save money but also ensure a smooth and responsible business traveller experience.   

We do all the work, all you must do is check-in. 


If you would like more information on how our team of experts can assist you with your business traveller accommodation needs then please click on the link below: 


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