Business Services

Business services are a category of industries that provide services to other businesses. They include professional services such as legal services and employment services, as well as technical and trade-related services such as engineering and architecture.

Business service workers perform tasks that help companies achieve goals that would be difficult for them to accomplish on their own. These services can be anything from tech support professionals who work to troubleshoot computer and network issues, to maintenance service professionals who help repair appliances and other equipment.

They can also be used to improve employee quality of life, such as offering workout facilities or relaxation spaces. Some businesses even hire translators or interpreters to assist employees in speaking with foreign customers or clients who are not familiar with the language.

The business services sector accounts for 11% of the EU’s GDP and makes up a significant part of the European economy. The industry has significant untapped growth potential, and the EU’s policy makers are taking steps to remove obstacles and stimulate competitiveness in this sector.

Why Service Business Models are Different

The first major difference between a product-oriented business and a service-oriented one is that a product provides a tangible commodity. This enables a simple way to describe the business’s products and services.

Developing and selling services often requires more creative thinking and a new business model. A service business may have to develop a reputation for the type and quality of the services it produces, which can be a barrier to entry.

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