The Business services industry is a subset of the economy in which companies offer non-physical products and activities to their clients. These activities might include management consulting, accounting, human resources, marketing, technology services and more. These businesses can offer their services to both other companies (B2B) and end consumers, as well (B2C).
What Are Examples of Business Services?
Construction services are a common business service that help firms renovate or expand their workspace. These workers typically bring their own equipment, reducing the need for a company to rent or buy expensive construction tools. Insurance services are another business service that many companies use to cover expenses such as workplace injuries and accidents. Translation and interpretation services are also a common business service, as they allow organizations to reach a wider range of employees and customers who may speak different languages.
Other common business services are IT support, accounting, and cleaning and maintenance. IT support can help a company troubleshoot computer issues and fix hardware or software problems to keep a business running smoothly. Accounting and financial services can help a business monitor its cash flow and prepare tax returns. Cleaning and maintenance services can ensure a company’s work spaces are clean and safe for employees to enjoy.
One of the biggest benefits of a career in a business service is that it’s flexible and allows you to travel. Many of these roles are contract jobs, so you can find the right fit for your lifestyle and skill set while enjoying the freedom to work when and where you want. This can be especially helpful if you have children to care for or need to balance your work and home life, Spinelli says.
If you’re interested in starting a business in the Business services industry, it is essential to create a solid training plan for your team and establish standard operating procedures that can be followed by all employees. You should also create a process for accepting online bookings, quoting work, scheduling jobs, invoicing clients and getting paid. Finally, make sure you are aware of your state’s sales tax laws and other legal requirements for your business. NerdWallet has a tool that can help you determine your local taxes and regulations.