New research from American Express reveals that business travel is a crucial growth driver for small and medium-sized enterprises (SMEs). Over half (57%) of decision-makers reported that employee trips over the past two years were specifically undertaken to generate new business opportunities. This underscores the vital role travel plays in enabling SMEs to expand their reach and secure new customers.

Furthermore, nearly three-quarters (74%) of SME decision-makers surveyed stated that retaining clients is heavily dependent on their ability to meet in person, whether at client offices or in informal social settings. This highlights the enduring importance of face-to-face interactions in building and maintaining strong business relationships, even in an increasingly digital world.

The research, conducted to explore the value of business travel, surveyed nearly 300 senior decision-makers and more than 200 business travellers from UK-based SMEs employing up to 250 staff. Its findings provide valuable insights into how small and medium-sized enterprises perceive the role of business travel in their daily operations and long-term growth strategies.

According to the findings, just under half (47%) of SME decision-makers reported that their organisation intends to significantly increase business travel over the next 12 months, while roughly two-fifths (39%) said the volume of travel will remain at current levels. These figures clearly underline the significant role business travel continues to play in maintaining competitive advantage, fostering business growth, and ensuring continuity in increasingly dynamic markets.

The research strongly reinforces the importance of in-person communication, even in today’s digitally driven business environment. While technology is widely recognised as essential for improving operational efficiency, it is not seen as a substitute for the unique value of face-to-face interactions. Approximately four-fifths (79%) of SME decision-makers agreed that there is no effective alternative to replacing in-person interactions with customers and suppliers. This perspective highlights the enduring need for physical engagement to build trust, strengthen collaboration, and foster meaningful business relationships.

Additionally, seven in ten (70%) SME decision-makers acknowledged that offering employees opportunities to travel for business serves as a powerful tool for attracting and retaining talent. This perspective is reflected in the views of business travellers themselves; three-quarters (74%) believe that business travel enhances their career development prospects, including opportunities for promotion within their organisation.

Commenting on the findings, Lee Sullivan, Vice President at American Express, said:

“Our research clearly demonstrates that SMEs continue to derive substantial value from business travel when it comes to securing new clients and building long-lasting customer relationships. These in-person engagements are vital to their growth and success. At American Express, supporting SMEs on their growth journeys is a top priority. Our Business Cards offer a variety of benefits to help businesses get more from their trips. These include streamlined expense management and premium travel perks such as complimentary lounge access and annual travel credit, designed to enhance the travel experience for business professionals.”

About the Research

The data presented is based on comprehensive fieldwork conducted by Retail Economics in June 2024 on behalf of American Express. The research involved 223 business travellers and 292 senior business travel decision-makers from UK SMEs employing between 1 and 250 people.