Business services are a category of non-manufacturing service that companies utilize to help achieve their business objectives. They are essential for the success of businesses and include services like banking, transportation, warehousing, insurance and communication. They are distinct from products because they do not result in the creation of a tangible commodity. Business services are a significant part of the economy and a major contributor to GDP. The Bureau of Labor Statistics (BLS) projects that employment in the business services sector will grow faster than the average occupation between 2019 and 2029.
The main characteristic of business services is that they are intangible and experiential. They are a vital component of many industries and are used by a variety of different types of businesses. These intangible services offer a variety of benefits to companies, such as cost reductions and increased productivity. Typically, these business services are utilised by various departments within a company and are a core component of any organisation.
Examples of Business services include graphic design, consulting, marketing, utility and information technology (IT) services. These services assist businesses in creating, promoting and supporting their products. They can also be used by businesses to improve their internal operations and increase profitability. For example, a company that provides IT support to other companies may create and manage systems, networks, applications, software, databases and other infrastructure for their clients.
Some of the biggest and most successful businesses have a strong foundation in business services. This includes companies like Apple, Google and Facebook who provide many consumer-facing business services such as product development, sales and customer support. These are not only important for the growth of these businesses but they also have a direct impact on the quality and functionality of their products.
In order for a business to thrive, it must have a good grasp of what it is doing well and where it can improve. Business services help companies understand this and can be a critical element of any strategy. Business services can be provided by consultants or other outside companies and can also be in the form of online tools and applications.
As you can see, there are a wide range of business services available and there is something for everyone. Whether you’re looking for an exciting career path or simply want to make your company more efficient, business services can be the answer. With the right education and specialised skills, you can set yourself up for a great future in this field. Break Free Academy offers a number of courses to give you the skills you need to get started in this field. Check out our course catalog today!