Business services are activities that support the operations of a company but do not result in the creation of tangible goods. These activities help a business maintain productivity and profitability by providing support functions such as finance, accounting, human resources, marketing, and information technology.
A wide range of businesses provide business services. Examples include a graphic design firm that creates logos, signage, packaging, publications, and web graphics for business customers; utility services such as a power plant that charges commercial customers based on energy consumption; and transportation services such as a freight company. Other business service providers offer consulting and advisory services to companies.
The global business services market is expected to grow at a CAGR of 6.8% during the forecast period, from US$220 billion in 2015 to US$332 billion by 2025. This growth is due to the increasing demand for outsourcing of business services by organizations worldwide. In addition, the rise in technology and digitalization has enabled many business services to be delivered via web platforms and systems.
As a growing sector with plenty of jobs and career opportunities, the business services industry provides competitive salaries and benefits for employees. Some of the most common benefits are health insurance, vacation time, and employee assistance programs. Additionally, the field is fairly flexible, allowing employees to choose their hours and work location.
To be a successful professional in the business services sector, it is important to possess the right skills and traits. These include strong analytical and problem-solving abilities, excellent communication and interpersonal skills, and attention to detail. Those who want to start a career in the field should prepare themselves by taking online courses and completing certifications.
Some of the best jobs for new graduates are found in the business services sector, which offers a variety of career paths and opportunities for advancement. Some of these positions require only a high school diploma or GED certificate, while others may require a bachelor’s degree in business administration, finance, or economics. In addition, employers in this field often look for applicants with experience in their field or a related one.