Small biz employees overspending

If you have clients who own small- or medium-sized businesses, it’s time to raise a red flag.

A recent report shows employees of these companies are expensing much more than their corporate peers, a ProfitGuide.com article says.

Read: 4 ways to help small biz clients

“Globally, SME [small and medium enterprises] travelers not only filed 17% more expense transactions while on the road than their corporate counterparts—they also spent more money in every major expense category. SME staff spent 14% more on airfare than big-company employees, 18% more on dining, 21% more on lodging and a whopping 57% more on car rentals,” the article explains.

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Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.