Business services are a group of intangible, non-marketable goods and services that businesses purchase or provide to their customers. These include telecommunications, computing and management.
These services are typically provided on an ongoing basis for a set price and usually include an associated service level agreement (SLA). Examples of business services are online banking, internet access, remote backups and storage.
Some business services are used by employees, such as day care and courier services. These services are important for employers to offer because they can save time and money and provide a more convenient work environment for employees.
For example, couriers deliver office supplies and materials to companies. They also help keep offices and retail locations clean and tidy, allowing for a more productive workplace.
Technology support workers can also be hired to troubleshoot computer or network issues for businesses. These business services can help firms stay competitive by addressing technical problems quickly and efficiently.
Shared services are a common method for delivering business operations and can be useful in a number of situations, such as during mergers and acquisitions. They can also help organizations achieve greater flexibility and improve communication with their customers and employees.
The business services sector is a major contributor to the overall economy, as they provide jobs and economic activity. They are a growing industry that continues to expand in both size and scope. Its output is increasing in value as well, and the value of trade between business services and technical, trade-related and other services is rising.