The business services industry is a lucrative area to pursue a career. These intangible offerings are crucial to helping companies thrive and navigate the complex business landscape. Learn more about the benefits and how to start a career in this popular sector.

The most common type of business service is the one that supports a company’s strategic objectives. These may include providing legal support to ensure compliance with regulatory laws, or offering IT services to help a company improve its technological capabilities. In addition, business services can help businesses save money by outsourcing noncore functions instead of hiring in-house employees.

Another important type of business service is the one that provides value to customers. This could include a customer service department that responds to inquiries and complaints, or a marketing team that develops promotional campaigns. Moreover, business services can also help companies manage their cash flow by providing financial consulting and advisory services.

A special form of business service is the one that supports trade organizations. This type of service involves transactions between different entities, such as a car manufacturer and a wholesaler that supplies it with tires and rubber hoses. It is different from business-to-consumer and business-to-government transactions.

Business services are often exclusive to a specific client. As such, these services must be created according to the specifications of each individual client. Unlike physical goods, which can be stored for future use, business services must be consumed and produced simultaneously.