Business services are the intangible services that support businesses and their products or services. This includes the services that are not directly related to production, such as IT, insurance, accounting and legal services. These are the services that companies often outsource to other companies, rather than performing in-house. They are a major component of the service economy and contribute 11% of EU GDP.
A large number of different industries offer business services. Some examples include real estate, IT, advertising, human resources, insurance and more. These services allow businesses to concentrate on their core operations, without worrying about the ancillary tasks that they may not have the time or the resources to perform themselves.
In addition to the traditional categories of business services, there are also many types of business-to-business (B2B) services. This type of service takes place between trade organizations and is distinct from the B2C services that take place between a business and a consumer or between a business and a government entity.
The definition of business services varies according to the industry and the company. Some businesses that offer business services include IT services, accounting services and logistics companies. These are essential to the smooth operation of a business, and allowing employees to focus on their primary duties. Other important business services include legal services, marketing services and customer support. These are vital to the success of a company and allow it to maintain a competitive advantage over other companies.
These business services are not only essential to the success of a business, but they provide value to consumers as well. For example, a well-trained customer service employee can help a potential customer make the right choice, which could lead to a sale and boost profits. A good IT department can align the company’s IT assets with its business goals, which also helps its profitability.
Business services also allow businesses to keep costs down and remain competitive in their markets. For example, hiring a delivery service can save companies money on shipping fees and the cost of labor needed to handle the shipment. Similarly, outsourcing the maintenance of building structures and utilities can reduce the cost of maintaining a business’s physical space.
Lastly, companies can hire animal control or pest extermination professionals to handle occasional problems with rodents and insects. This can help the company avoid costly code violations, while also protecting its workers’ health and safety. Tech support services can assist with troubleshooting issues with computers and other technology, helping to improve efficiency and productivity.
Because there are so many sectors within the business services industry, there are a variety of options for people interested in careers in this field. Some of these jobs require no more than a high school diploma or GED certificate, while others can demand an associate’s degree or a bachelor’s degree. However, many of the careers in this sector are extremely rewarding and can provide a high salary with great job satisfaction.