It's not always easy to find a cheap hotel that you know you would be comfortable staying in. Often, the prices charged in large cities like London, Paris, New York, etc. don't really seem to equate with the word 'cheap'.
That said, it is possible to find a cheap hotel. You just need to know where to look!
There are a number of budget hotel chains who offer a good standard of accommodation at an affordable price. These vary by country - you'll probably know the ones in your own country but if you are travelling abroad, you may need to do some research.
The advantage of using a hotel room provided by one of these chains is that it will be fairly cheap and that you can rest assured that all the standards you expect from a budget hotel room will be catered for.
The disadvantage can be that sometimes the location is a bit 'out of the way'. Some cheap hotel chains have branches at out of town locations. You may also miss out on the personal service you would expect from a smaller, owner-run establishment.
The next alternative is to look for an individual hotel. Smaller hotels are often run by their owner and this can be a good way to dig out a cheap hotel.
Because the owner is most likely running and looking after the hotel, this means that cheap hotels in the UK can sometimes be like hidden gems. The care and attention you'll get from a cheaper place can often be much better than you'd get in, say, a mid-range hotel chain. After all, it's the owner's livelihood that depends on it, so they're more likely to make sure everything is just right for you.
Naturally you will want a clean, comfortable room. Since you are on business, you should also look for other things such as an internet connection. More hotels nowadays are offering this facility but you should check what is available and how much it will cost. It's no fun arriving at a hotel only to find that the only broadband hotspot is already packed with other business travellers. Whilst it is possible to use the latest mobile phones to get an internet connection, they charge by the Mb and this can start to get expensive very quickly.
At the end of the day, it's probably your business department's choice what budget you have for overnight travel costs. Of course, if you're on a tight budget like an increasing number of cost conscious business travellers nowadays, you may not have too much of a choice of where to stay. But with very few exceptions there are almost always acceptable places to stay when you are travelling on business.