Business services are a set of tasks that a business does to benefit other companies without providing tangible goods. They help businesses to market, produce, and manage products in a cost-effective manner. These services also allow businesses to provide their employees with perks and incentives to stay productive at work.
The key to successful service-business management lies in the design of a product offering that attracts attractive customers. Like product companies, service-business managers must get the four critical elements of service design — marketing, technology, operations, and people — to work together well.
Marketing, a service that promotes a product or brand to customers — can be hard to get right because it requires understanding the needs and wants of a targeted group of consumers. For example, if an architectural firm’s client hasn’t explained the purpose of a new facility clearly, that might derail a design process or negatively impact the quality of the end product.
Tech support, a service that helps companies solve technical problems quickly, is another example of a popular business service. These workers can troubleshoot computer and network issues to prevent disruptions in productivity.
Logistics, a service that handles the distribution of goods to customers, is another common business service that helps firms deliver products on time. This is especially helpful for large businesses that must transport many goods over long distances.
Training, a service that helps companies improve their employee skills and performance, is also common in the industry. These services can include specialized programs that teach employees how to use specific technology or to interact more effectively with customers.
Finance, a service that deals with money and financial planning, is a crucial part of any business. These services keep track of all aspects of a company’s finances, including debt, assets, and cash flow.
Other business services that are important for small and medium-sized enterprises include real estate agents, utility service providers, and personal services, such as child care. Using these business services can help companies save on staffing and maintenance costs, and provide more convenient working environments for employees.
Careers in the professional and business services supersector are projected to grow faster than average between 2019-2029, according to Bureau of Labor Statistics (BLS) employment data. Job opportunities will increase in this sector because of an aging workforce, higher demand for specialized knowledge and skills, and greater economic growth.
Employers are looking for individuals with a strong work ethic and high attention to detail. They also prefer those with extensive business experience, leadership skills, and a positive attitude.
Qualifications required for a career in the business services industry vary depending on the type of job, but employers usually expect candidates to have a bachelor’s degree or higher. They may also require certification from a vocational or professional institute.
In the professional and business services supersector, the unemployment rate was 3.3 percent in 2018 for full-time workers and 4.6 percent for part-time workers. Unemployment rates for professional and business services are based on a national survey of households.