Business services are a sector of the economy that provides non-physical goods and services for profit. These include technical services, professional services and social services.
In the EU, they represent a significant portion of GDP and are crucial to the competitiveness of manufacturing and other sectors. They are also increasingly being used to enhance the value of products through new combinations of goods and services.
The Business Services Supersector covers a wide range of services including engineering, architecture and IT, to other professional services such as legal, employment and facility management. It includes 11% of the European Union’s total GDP and is a major driver of growth.
These services are vital for businesses to function and meet their day-to-day tasks and demands. They can help companies cut down on labor costs, hire more qualified employees or complete a task they may not be able to handle in-house.
For example, many companies rely on pest control to avoid occasional infestations of rodents, insects or other vermin that can cause serious health risks. They can also use maintenance services to ensure that their offices, buildings and equipment are safe and functional.
Tech support services help companies troubleshoot technical problems with computers and other devices, allowing them to remain productive. They can provide anti-virus protection, help with software installation and update applications to make them more user-friendly.
These types of services are essential for business operations and can be very profitable for both companies and individuals. They are available to both large and small organizations, and they can be hired on a contract basis.
Some of the most popular business service categories are information technology, security and maintenance. These services help companies keep their information systems secure and efficient, and they often can be hired on a short-term or long-term contract basis.
Other common business service areas are travel, food and event planning. These services can be used to increase a company’s profits by providing customers with a convenient way to conduct business.
They can also be used for a variety of reasons, such as increasing the convenience of employees and customers, reducing energy costs or enhancing employee satisfaction.
A key challenge for service-business managers is the design of their offerings and the management of the people who deliver them. Much of the same approach that has proven successful in product-business management can work for services, but with a few important differences.