What Are Business Services?

Business services

Business services comprise all non-physical parts of the economy that help businesses improve their operations and industry environment. These include activities like marketing, training and waste management, along with a variety of more specialised services such as information technology or child care. Companies that lack the internal expertise to provide some of these services can often find external providers to fill this gap. This trend is likely to accelerate as businesses seek new ways to improve productivity and maintain a competitive edge.

The five characteristics of Business services are intangibility, participation, interaction and communication, value creation, inseparability, and ephemeral nature. Intangibility is because the service cannot be touched or seen, but rather, it is experienced through interactions and knowledge. Participation is because customers may be involved in the service delivery process, and their satisfaction levels can be influenced by the level of interaction that they have with the provider. Communication is because the interaction between the service provider and customer is necessary for the service to be provided, and the service provider needs to be able to communicate with its customers in order to deliver its services.

This section provides data on the number and rate of workplace fatalities, and the rates of workplace injuries and illnesses per 100 full-time workers in professional and business services. It also presents data on occupational employment, job openings and turnover, union membership and representation, gross job gains and losses, and projections of occupation-specific employment change.