What Measures You Can Take to Protect Your Business from Brexit By Ken Thompson
What Measures You Can Take to Protect Your Business from Brexit
By Ken Thompson,
Managing Director at Eton Travel Group
Ken Thompson explains the truth about what Brexit means for corporate travel and gives insight into measures you can take to protect your business…
I have been in the travel industry for 45 years and while the terms of the Brexit negotiation still remain unclear, one thing I know from experience is it is important for businesses to plan now for the challenging times that are ahead.
Even the most risk averse of companies will need a plan of action, particularly if you want to continue your business in Europe and beyond, while remaining profitable.
Here are 9 measures you should be considering when planning for Brexit, tackling what I believe are the most prominent issues we are facing…
1. Being Decisive and Making Changes
have to make some big changes and take some tough decisions. Being fluid, flexible and open to new ideas is what will keep you ahead of the game.
A Brexit report by ABTA, reads: " The extent to which operating from outside the EU would increase costs for the travel industry would depend largely on the agreements the industry would adopt and the ease at which it could transition to the new arrangements."
Make sure any strategy for your business or corporate travel is agile and has room to be responsive, as decisions out of our control continue to ebb and flow.
2. Counteract Increasing Flight Prices
Getting the best possible price is on all of our agendas and is one of the most prominent savings a business can make, if you are smart about your company’s travel options.
We all suspect that once we leave the EU airfares are likely to increase. There is also the potential for new tariffs and taxes on flights out of the UK.
However, there are measures that you can take as a business to counteract these increases:
- Take control of your travel budgets – letting your employees make their own travel arrangements may not be a cost-effective use of their time and is also unlikely to get the best deal for your business.
- Harness group buying power – pool the budgets and spend of all your offices and sites to benefit from procurement rates.
- Use a Travel Management Company (TMC) – we partner with all major carriers and can access industry rates.
One of the things we offer at Eton Travel is access to the buying power of American Express Global Business Travel. If there is a cheaper rate to be had, then we can get it for you, as we are only one of three UK American Express Global Business Travel Partners
3. Looking at New Trade Routes
We need to the potential of new trade routes and continue to be big players in international commerce.
To do that, our infrastructure needs to change. We have a distinct lack of hub airports in the UK and our rival economies, whose airports are evolving, are leaving us behind. The government needs to act fast.
Eton Travel Group is a member of the Guild of Travel Management Companies (GTMC) who has written to Theresa May, asking her to act on the recommendations for a third runway at Heathrow<span class="TextRun SCXW258360741" lang="EN-US" style="user-select: text; -webkit-user-drag: none; -webkit-tap-highlight-color: transparent; font-weight: normal; font-style: normal; font-size: 12pt; font-family: 'century gothic', '