So what can you do with your small business travel awards? Well, first, consider how often you and members of your company are required to travel for business. If you regularly fly from place to place for business, using your travel awards to purchase airfare is a simple way to save money. The important thing to keep in mind is that your travel awards can help you reduce the costs of business travel or simply add another level of value into being a small business owner. While cashing in business travel awards for first class airfare is a great way to show that your company has arrived, you will need to balance the cost of first class travel with the value of getting more trips from your miles. You may also want to look into business credit cards that offer elite-level memberships as one of the benefits, which may make first class travel easier to afford with your miles.

Of course, if your business doesn’t require travel, you may think that airline miles aren’t as useful for your company. However, there are an increasing number of mileage programs that allow you to purchase merchandise that can be used for your business. Depending on the program, you can redeem your miles at specific merchants or even use them to purchase items at auction. This can be a great way to acquire what you need for your company without spending extra money. One other option that many businesses may not have considered is donating their airline miles to charity. Many charities use miles to convert to cash that they use to support their efforts, or to purchase airline tickets for employees, volunteers, or even those in need. For businesses, the donation of miles they wouldn’t otherwise use can lead to tax deductions.

A final option for small businesses is to turn airline miles into bonuses for employees. Offering your employees a chance to take a vacation can be a great way to create happier, more loyal employees which can lead to major benefits for your business. Whether you choose to offer airline tickets as a bonus for top employees or offer them as a raffle prize at the office party, you can use your airline miles to motivate your best asset.

Being creative with your airline miles can help you take advantage of an asset that may be going to waste. If you plan to use a credit card to manage your businesses money, pay for unexpected expenses, or simply grow your company, rewards are a way to get something more out of it. Think of airline miles as another asset that your company has earned, and spend them accordingly.