Business services are a broad sector of the economy that includes a wide variety of industries. They contribute 11% of EU GDP and have an important role in European competitiveness, particularly in sectors such as manufacturing.
They include professional services such as legal advice, IT consulting and accounting, as well as non-professional services such as insurance and management consultancy. They are also a major source of employment in Europe.
The European Union’s Internal Market legislation and policy actions aim at removing the obstacles that currently hinder the growth of business services, and stimulating their competitiveness. In particular, they encourage the cross-border movement of service providers. The European Commission has facilitated this development with the implementation of the Services DirectiveEN***, which enables business service providers to establish in other Member States or provide services across borders.
There are many types of business services, and they range from marketing and production to safety and convenience. They are primarily sold to other businesses (business-to-business, or B2B) and end consumers (business-to-consumer, or B2C).
Some examples of business services are a company’s IT consultant who designs software for a company on a contract basis, a security company that installs a monitoring system at the company’s office and a pest control company that cleans up the company’s property.
They also include a company’s IT department that provides assistance to other departments and employees on computer-related issues. They also include a firm that offers training to new employees on computer skills, and an insurance provider that sells policies to help cover employee injuries.
The services industry is a large and growing sector of the economy. It consists of about 420,000 establishments (single-location companies and units of multi-location companies) with combined annual sales of nearly $950 billion.
There are four essential elements to a service-based business: a sound product, good customer relationships, efficient processes, and effective management of people. These components are critical for the success of any business, but they have been underappreciated in recent years.
It is possible to start a service business without any experience or training in the area, but it’s more likely to succeed if you have a background in that field. For example, if you have a strong background in IT, then you can work as an IT consultant to develop software for a business.
In addition, a strong sales team is vital for a business-to-business service. This is because you’re addressing decision-makers at other organizations rather than the average consumer.
For this reason, it is important to have a good understanding of your target audience and how they think about business. You need to know how you’ll engage with them, what kind of information they want and how you’ll convey that information effectively.
Your sales approach should be focused on building relationships and highlighting the benefits of collaborating with you. If you’re not sure how to do this, talk to an expert in the field.
The City’s Business Services Department can help you resolve issues with city agencies, obtain permits and licensing, access financing and incentives, bid on government contracts, hire and train your workforce, and take advantage of the many opportunities that NYC has to offer. The Department also works with communities to invigorate city neighborhoods and make them more business-friendly.
