Business services are activities or functions that support a company but don’t produce tangible goods. Companies of all sizes need these kinds of services. For example, a company may need delivery service to purchase or receive supplies without having to visit a store. Similarly, a tech support professional helps a company troubleshoot computer problems so it can stay productive. Some businesses also require utility services such as water, electricity and gas for workspaces. Companies that want to promote healthy lifestyles among employees may offer in-office day care services, which help employees maintain a work-life balance.
These types of business services can be categorized as either business-to-business (B2B) or business-to-consumer (B2C). A B2B company provides services for its customers on a contractual basis. These services help businesses achieve a goal that they couldn’t accomplish on their own due to a lack of expertise or resources.
Some B2B business services can also be classified as a kind of marketing or sales support. For instance, a business may contract with an event planning firm to manage its annual conference for industry clients. Or, a design or advertising agency may provide branding services for its B2B clients. The majority of B2B and B2C business services are based on a transaction, but some are based on a donation or volunteer activity. The value of a service is intangible, unlike goods, which can be stored or traded. Nevertheless, these kinds of services contribute to a nation’s economy in many ways.