The business services industry comprises companies that offer a variety of non-financial services to businesses. It includes a wide array of industries including consulting, staffing, shipping, waste handling and administration. The industry is considered to be one of the fastest growing sectors in the economy. Its services are used by almost every type of business in operation. As such, it can be a great career choice for anyone looking to move up the ladder quickly.
Business service jobs can be very rewarding for people who enjoy working with other people in a fast-paced environment, says Jennifer Spinelli, CEO of home-buying company Watson Buys and an IT management consultant. However, it’s important to consider the work environment before making a decision about whether or not to start a career in this field. “If you don’t have a high tolerance for stress, a job in business services might not be the right fit for you,” she adds.
According to the Bureau of Labor Statistics, there were 4.2 million people employed in professional and business services in 2015. About 14% of them were in management, finance, and insurance. The other 85% of the employees were in support functions such as accounting, sales and marketing, human resources, and operations.
There are two things that all businesses need in order to exist: a product or service and customers willing to pay for it. Businesses provide a variety of business services to their customers in order to make their products or services more useful. These include marketing, advertising, warehousing, and logistics services like transportation and warehouse management. Other business services include financial and investment banking, information technology and communication, and research and development.
Most business services are provided by large corporations, but some are also offered by small and medium sized enterprises (SMEs). These smaller firms are often not as financially equipped as larger companies, but they may still be able to offer competitive services. In addition to providing basic business services, some of these SMEs may also offer services that are specifically designed to improve employee quality of life or reduce the cost of doing business.
A key feature of business services is that they are intangible and support the primary activities of a company. They are also often offered in a variety of forms, with some being very similar to consumer goods, but with additional features, function or quality. For example, a cloud storage service that is primarily aimed at consumers might have a business version with higher data redundancy and power tools.
Some business services can be provided online, with some requiring the client to visit an office or retail location in order to receive them. Regardless of how they are delivered, it is crucial that these business services are provided with a high level of quality and efficiency in order to ensure that the company’s operations are running smoothly. This helps to increase customer satisfaction and create a positive image for the company.