Business services are various tasks and activities that help maintain companies without supplying any tangible product. They benefit large firms by providing marketing, production, safety and cost purposes and are a major portion of the commercial world.
Some examples of business services include delivery, financial, consulting, and administrative services. These can be provided by any company or individual and are typically based on an hourly rate or project basis. Training, employee development and management are also business services. This includes establishing best-in-class practices, procedures and standards for employees to follow.
The tourism industry, which includes hotels and tour guides, is one of the biggest business service industries. It offers consultation and experiences that help individuals travel and learn. The finance industry is another business service sector, and it offers banking services, consultation and advice to customers. There are also warehousing, waste handling, staffing and shipping services that are considered business services.
Many small businesses use a variety of business services to run their operations smoothly. A tax preparation company, for example, helps small business owners keep up with federal and state taxes while also filing quarterly reports to the IRS. A financial services company can provide accounting, auditing, and banking assistance while a payroll service can ensure that employees receive their paychecks and deductions on time. Other business services include printing, copying and mailroom functions as well as legal and marketing assistance. These can be outsourced to save time and money while focusing on core business functions.