Business services are activities that benefit companies but don’t result in the production of tangible products. They comprise a large portion of the commercial world and offer numerous opportunities for small businesses to provide expertise, convenience and luxury. Large firms in particular rely on these services for marketing, cost and safety reasons.
While it is difficult to define what exactly constitutes a service, most would agree that it involves an exchange of work for money and does not produce a physical product. Unlike goods, which can be produced and stored for later sale, the production and consumption of services take place simultaneously. For example, a teacher’s lesson to students or a doctor’s treatment of patients are considered services.
Examples of business services include interpreting and translation, technology support, and landscaping. These services help companies solve problems and remain productive. Interpreters and translators assist with conversations and seminars, encouraging inclusion and overcoming language barriers. Technology support services help companies with networking and computer issues, allowing employees to stay productive.
Another type of business service is outsourcing. Many small businesses outsource tasks that are not in their core areas of expertise. This allows them to focus on the strategic-based internal goals of their company and hire contractors for non-core processes that require special skills. This is often cheaper than employing in-house personnel for the same functions. This also provides them with access to expertise and resources that are not available within their organization.