Business services are activities that benefit a company without supplying tangible products. These are a major part of the commercial world and large firms in particular rely on these services for all purposes, including marketing, production, safety, cost and convenience.
Business service companies are often less expensive to operate than product businesses because they do not have inventory or have a physical location. They also may be able to offer more flexible or personalized service because they are not trying to sell tangible goods.
Some examples of business services include:
Maintenance: A maintenance service professional provides services such as keeping a company’s property clean and fixing broken equipment or appliances. This helps keep a company’s building safe and operating properly, allowing employees to focus on their jobs instead of dealing with problems like mold, insects or pest infestations.
Tech support: A tech support expert provides a wide range of computer and other related services. These professionals can help customers with issues like installing new software, upgrading their computers or troubleshooting technical difficulties.
Utility: A utility service business offers services such as providing electricity, gas and water to companies that want to stay connected. These businesses can be located in a variety of locations, including residential and commercial areas.
Real estate: A real estate agent can help a company find a place to rent an office space or retail space. They can also provide assistance with renting or leasing office equipment and other resources.
Family daycare: A family day care business provides child care for families in a workplace setting, including those who work from home or have children with special needs. These services can help employees maintain a more balanced life and improve productivity.
Outsourcing: A common way to outsource some business tasks is through the use of external providers, especially those with specialized expertise and experience. This can improve overall efficiency and allow businesses to concentrate on their core competencies, rather than having to hire a plethora of extraneous employees to perform tasks that are not adding value.
Design: The success of a service business rests on how well it meets customer demands for a favourable experience, not just a good price or convenience. Managers must rethink the design of their services so that they provide attractive, high-value experiences that stand out from the competition and appeal to an appealing segment of their target market.
The service industry is a broad sector and covers a large range of activities, including advertising, marketing, consulting, logistics (including travel and facilities services), waste handling, staffing, shipping and administration to name a few. It is one of the largest industries in the world and provides an invaluable service to businesses, consumers and government agencies.
The EU Internal Market legislation and policy actions aim to encourage greater competitiveness in this crucial sector. This includes the Service Directive, which allows business services to be established across borders in EU countries and stimulates cross-border trade.