Business services are a broad category of businesses that provide non-financial products and services to other companies. They include marketing, logistics (including travel and facilities services), waste handling, staffing, security and other business support services.
The Business services industry consists of about 420,000 establishments, including single-location firms and units of multi-location companies, with combined annual sales of about $950 billion. Its major players are ADP, Allegis Group, ManpowerGroup and Adecco (US), Adecco (Switzerland), Randstad (the Netherlands), and TUI Group (Germany).
Among the most common types of services offered by business services companies are office administration, payroll, personnel hiring, accounting, transportation, cleaning, and waste disposal. Other service areas include information technology, which includes data processing, IT services and IT infrastructure management.
These services often are provided by independent contractors and not part of a company’s internal workforce. They can also be performed remotely, and they may require little capital investment from the business.
IT services are a type of business service that helps align the assets of a company’s information technology department with business goals and support a company’s overall success. For example, an IT department can help a company streamline workflows and create a system that makes it easier to communicate with employees and customers.
Software services are a type of business service that provides anti-virus protection, application updates and other technological upgrades to a company’s computers or devices. These services can help a business reduce its costs and increase its productivity by improving its technology.
Maintenance and tech support services are another type of business service that is often needed by companies and individuals. These professionals can troubleshoot network problems and fix any other issues that arise with a company’s appliances, computers or technology.
Whether or not a business provides a particular type of service can depend on its industry and target market. For instance, a business that offers a landscaping service will have to compete with other similar businesses in the area that offer the same service.
A company that offers a medical or daycare service will have to compete with other similar businesses, as well. These service providers will need to have a reputation for providing top-quality care.
Training services are a type of business service that is offered to organizations that want to teach their employees new skills or improve existing ones. Most businesses will have training departments that offer courses on topics like soft skills, communication and customer service.
In addition, these services are often offered as part of a larger package that includes additional business-related offerings such as employee wellness programs or professional development. This combination of offerings can make a company more attractive to prospective employees.
The business services industry offers a lot of room for growth, as it is often easier to add or drop services than other types of businesses. This allows the industry to grow faster and respond more quickly to market trends.