Business Services
Business services are activities that support the operations, infrastructure and productivity of a company. Companies require all types of business services to function successfully. The responsibilities of the business service industry include providing marketing, consulting, information technology and shipping services among other things. Often times, this sector of the economy includes businesses that focus on a specific product or service for other organizations such as law firms and insurance companies that provide products such as workers compensation and life insurance to businesses.
A variety of resources are available to help entrepreneurs looking to start a business that provides a business service. These resources can also be useful to seasoned business owners that are considering new opportunities or expanding their existing business. For example, the Small Business Association offers some tips for entrepreneurs on how to determine the price of a service business.
In order to start a business that provides a service, entrepreneurs must consider several aspects of the business including inherent costs, potential market demand, customer satisfaction and profitability. For example, the cost of a service may be determined by the materials needed to perform the work as well as the labor involved. Additionally, a startup business must consider the cost of renting or leasing office space, equipment and furniture as well as other related costs.
The Business Services Center (BSC) was established to increase efficiencies and reduce costs by centralizing transactional Human Resources and Finance transactions common across multiple agencies. These efforts support agencies in their efforts to meet mission objectives by allowing them to focus on core operational services.
BSC is a department within the Office of General Services. Various services are offered by the BSC to all state agencies and include, but are not limited to, human resource management, payroll processing, financial reporting, data analytics, procurement and customer support.
Service businesses are generally defined as any industry that provides a non-tangible, support activity to other companies in the form of information, expertise and experience. Services do not have any physical form and cannot be touched. They are a subset of economic services and support the production, trading, import and export activities of a country. Some examples of business services are mediclaim, banking facilities and communication services.
The majority of jobs in the business services industry are in a variety of fields such as IT, legal and financial. These jobs are categorized as business services because they offer advice and assistance to other companies in exchange for a fee. This category also includes outsourcing, which is the process of transferring a particular business function to an outside provider. Some other common business services include contract manufacturing, event management and engineering services. Other types of business services include those that provide marketing, advertising, research and design. This category of business services is considered part of the professional and business service supersector. The professional and business service industry accounts for nearly one-third of the total job employment in the United States.