Business services are the auxiliary activities performed to support a company’s core mission. These activities may be related to a variety of functions including information technology, human resources, facilities management and marketing. Businesses in the business services industry often provide these services to companies in other industries as well as to end consumers.
While the definition of business services is broad, it typically encompasses any activity that a company outsources to improve its operational efficiency. For example, a company might hire an HR service provider to help it create and manage employee compensation plans. Another example of a business service is IT support, which helps companies resolve technology problems.
A business services firm can be an excellent choice for someone who wants to start a small business because it doesn’t require any physical inventory. However, it is important to understand the costs associated with providing business services before you make a commitment. The first step is to create a price list that includes labor, materials and any markup or profit margin you want to include. Then, compare the pricing of your competitors. Remember that you can’t copy their fee structure because they have different costs and profit margins that you don’t know about.
A career in business services offers many options for people who enjoy a variety of tasks and are comfortable working remotely. For example, some jobs in this field only require a high school diploma or GED certificate, while others require a bachelor’s or graduate degree.