Business Services in the EU

The Business services sector represents an important part of the European economy and has a high potential for growth. It contributes to 11% of the EU’s GDP and is a vital input for other sectors, such as manufacturing. To increase the value added by this sector, it is crucial to develop new combinations of products and services. In addition, a new impetus to policy development is necessary in order to unlock the full potential of this sector, which is often overlooked.

Business services are the work activities that support a company’s core business functions. This includes a wide range of sectors from information technology (IT) to warehousing and facility management. The most prominent example of a business service is the service provided by an accountant, which helps companies with their finances. However, the term also refers to other specialised services such as secretarial assistance or temporary work agency services.

Outsourcing business services is common practice for many companies as it allows them to focus their efforts on their core activities and improve overall efficiency. It can also help them to save on overhead costs and free up internal resources that can be better used for more value-added tasks. However, the business services industry is highly fragmented and there are a large number of providers competing in specific niches. Therefore, it is critical to choose a provider that is a good fit for your business. You may be able to find such a partner through industry associations or by seeking out recommendations from other businesses.