Business services are non-tangible products that work as a support system for other companies to achieve their goals and earn profits. They provide specialized labor, equipment and expertise to facilitate businesses in accomplishing specific industry functions.
Services can be provided by companies or individuals and they are primarily consumed by organizations. These services range from outsourcing a whole process to consulting, training and facilities management. Outsourcing helps organizations save money and concentrate on their core competencies. Business services can also be a way to expand a company’s capabilities or programs without investing in the necessary resources.
In contrast to product-based businesses that invest in developing, manufacturing and marketing their own goods and services, service-based business models focus on offering a set of activities that customers demand. This type of business model requires less start-up capital than a product-based business because there is no need to produce a physical product. However, it is important for businesses that offer business services to understand the needs and demands of their clients.
This includes knowing what kind of products and services are in demand, understanding customer requirements, anticipating their future needs, and developing innovative solutions to meet those demands. It is also important to know what the business value of each product or service is and how it is differentiated from competitors.
Many types of businesses fall under the category of business services, including:
Compared to physical products, service-based businesses require less start-up capital, and it is easier for them to adapt to changes in customer demand. However, it is important for business owners to develop strategies to create differentiation amongst their offerings to increase profitability.
The qualifications needed to get a job in the business services sector vary by industry. For example, to be a courier in the shipping industry, a high school diploma and strong work ethic are essential. To be a professional in a field such as computer technology, software engineering or accounting, a bachelor’s degree is typically required.
Some of the most common career paths for people who work in business services include careers as administrative support, janitorial, shipping and receiving. These roles can pay a minimum of $30,000 annually and offer advancement opportunities. Other careers in business services include IT support, project management, consulting, customer service, human resources and facilities management. These fields typically have higher salaries and require a bachelor’s degree or higher. They can be an excellent choice for people who want to work in an industry they are passionate about, as well as make a significant contribution to society. To learn more about how to build a career in these areas, see the Business Services Careers page. Click the star icon to add a Business Services service to your Favorite list. You can then multi-sort your Favorite lists by any column or filter by service type. You can also use the Advanced search page to find a particular Business Services service. Click here to learn how to create a customized Business Services dashboard.