Business services are non-tangible activities that benefit a company without supplying physical products. They include marketing, event planning, training, waste management and other types of non-production functions. In addition, they can include support services like information technology, logistics and shipping. Companies often outsource their business service needs to specialized companies, rather than relying on their own in-house employees to handle them.
For example, a company that makes cars might outsource the development of the software it uses to create cyber security measures. While the car manufacturer might not have the expertise to develop the software, it could rely on a software services provider to create the software and make it available to its own employees or its customers. This saves the company the cost of hiring an in-house team and the time it takes to train them.
In addition to reducing costs, a business service can help a company improve its industry environment by bringing in new ideas and boosting productivity. A consulting firm might suggest that a company adopt a new technology to improve efficiency or change its production methods. A company may also seek out a business service to help it develop a marketing strategy or develop new content for its website.
Business-to-business (B2B) services are transactions between trade organizations, such as a wholesaler and a retail store or a manufacturer and a supplier. This type of transaction is different from the more common business-to-consumer or business-to-government transactions.
A B2B service can provide a business with many advantages, such as providing faster access to specific supplies or making it easier to exchange data with suppliers. It can also save money by allowing businesses to share infrastructure and avoid paying for duplicate services that aren’t necessary.
As a result, the business services industry is growing at an impressive rate, according to data from the U.S. Bureau of Labor Statistics. The growth is largely due to the fact that more and more companies are outsourcing some of their business services.
This trend is especially important for smaller firms that don’t have the resources or time to devote to in-house business services. In addition, the COVID-19 pandemic has pushed more employers to bring in business services to help their employees stay productive at home and at work.
Some business services are designed to boost employee well-being, such as in-office day care or fitness facilities. Other business services focus on improving the productivity of employees, such as IT support or translation services.
As a career, a job in business services can be rewarding and challenging for those with strong interpersonal and communication skills and the ability to work under pressure. In addition, working in this field can be a good fit for those who prefer to work from home, as many jobs are virtual. If you’re interested in learning more about the day-to-day tasks associated with this career, consider taking one of Break Free Academy’s free virtual work programs.