Business services are activities that benefit companies without delivering physical products. The sector includes many types of work, from IT and management to human resources, warehousing and shipping. Businesses hire these providers for convenience, cost-effectiveness, and expertise. In addition, these providers foster innovation and growth in the company. They also enable businesses to concentrate on core business functions. The Office of Supply Chain, Professional, and Business Services (PBS) at ITA advocates for and promotes the interests of U.S. providers of these services globally.
The term business service refers to services that are provided by companies on a commercial basis for use in their day-to-day operations. These may include IT services, telecommunications, logistics, transportation, warehouse management and distribution, as well as legal, accounting, and human resource services. Companies provide these services to other businesses and end consumers, as well as to their own internal customers.
These services are based on intangible assets and do not produce tangible goods. They are not stocked in inventory and can only be delivered when demanded by the customer. This makes them different from goods, which can be stored for future consumption.
In addition, business services are more flexible than goods and can be tailored to specific needs. For example, a company that requires a specific type of software can have it custom developed for them by a business services provider. This can be more affordable than purchasing a ready-made software product.
Among the most common business services is IT support, which includes hardware repair and maintenance, software development and integration, technical training and other IT-related services. These are essential for companies to keep their technology functioning properly, which in turn allows employees to be productive and focus on their tasks.
Other business services include human resource and employment, facility management, advertising, marketing, and consulting. These are critical to a company’s success, and hiring the right people for these positions is imperative.
Warehousing and freight forwarding are key business services, as they can help companies manage the flow of materials. They can also improve productivity by reducing the time spent on unneeded tasks such as tracking packages or finding lost items.
The global business services sector is a large and growing industry that offers opportunities for both new and experienced workers. The COVID-19 pandemic has increased demand for these services, and new technologies have opened the door for startups to offer fast and convenient solutions.
A business services job can be a great fit for someone who wants to work from home or another location with a reliable internet connection. Some jobs in this field require only a high school diploma or GED certificate, while others may need a bachelor’s degree or higher.
Some of the biggest players in this sector are IT services, accounting and finance, human resources, and marketing. They each play a crucial role in the European economy and are helping drive innovation and competitiveness. As a result, these sectors are expanding rapidly and creating jobs across Europe.