Business services are industries that provide non-financial support to a company’s infrastructure and productivity. They include a wide variety of occupations from advertising and marketing to logistics, travel services, waste management and staffing services. Nearly all companies require a number of these industries for successful operation and growth.
While business services don’t result in the production of tangible products, they are essential to every company. The business services industry contributes 11% of the EU’s GDP and continues to expand as new technology is integrated into everyday services. These technologies enhance the value of products through new combinations of goods and services as well as improving the quality of life for individuals, organizations and businesses.
Some examples of business services include:
Services that are marketed directly to companies and not the end consumers. They include IT services that help businesses develop and use their IT systems, consulting services to help a company achieve its goals, and marketing services that help a company promote itself. Many of these types of services are now being delivered through the Internet and over the phone.
Business services can also include transportation and warehousing services that help a company move goods to where they are needed. They can also include financial services like accounting and billing and human resources services that help a company recruit, train, and pay employees. They can also include administrative support services such as data and analytics, and customer service that connects a business with its clients through liaisons.
Types of Services in Business Services
The types of services that are offered by the business services sector vary significantly. Some of the more common include:
Unlike product-based companies, which produce goods for the market, business services providers make their products exclusively for their clients. This means that their services are tailored to meet the needs of each client and can be customized to fit their specific preferences. Business services providers often charge higher prices for their specialized expertise and have the advantage of offering recurring revenue through long-term contracts.
As the demand for business services continues to grow, so do job opportunities in this sector. While the qualifications for a career in business services are diverse, many jobs in this sector can be obtained with an associate’s degree or a bachelor’s degree in a relevant field.
In addition to high salaries, many of the jobs in business services come with excellent benefits and incentives. These can include health and dental insurance, a free gym membership, paid vacations, and bonus schemes. These perks work as morale boosters and encourage professionals to work with more dedication. This in turn leads to improved efficiency and increased revenue for the company. In short, it is no wonder why so many people choose to work in the field of business services.