Business services provide the support activities that enable businesses to operate and grow. From accounting and consulting to legal services, human resources and technology solutions, this industry covers a wide range of business functions. Companies of all sizes rely on business services, and this sector accounts for roughly 11% of the total economy.
As one of the largest service industries, business services play a key role in European competitiveness. They help transform the value of products by combining goods and services, and enable new forms of value creation. The sector contributes to EU GDP and employs a large number of people. In recent years, technological progress has transformed the industry and made it more accessible. Many services can be delivered over the Internet, for instance. This has opened up new opportunities for entrepreneurs.
There are different kinds of business services, including outsourcing, professional and IT services, facility management, waste handling and staffing services. These are often provided by specialised service providers. Those include IT consulting firms, law firms and digital marketing agencies. In addition, companies hire janitorial and maintenance services to keep their workplaces clean and in good condition. They also use pest control services, and hire tech support professionals to troubleshoot technical issues quickly.
Companies use business services to save time and money. They can also improve their productivity by partnering with a reliable service provider. In addition, business services can improve their profitability by helping them reach new customers and markets.