In order for a business to survive, it needs two things: a product or service and customers willing to pay for it. While the first one may seem obvious, attracting those customers is not always an easy task. Fortunately, the Internet has made it easier than ever for entrepreneurs to connect with and attract a potential client base. As a result, there are now many profitable opportunities for small businesses in the business services sector.
In a broad sense, business services are activities that benefit companies without supplying physical products. Often, large firms rely on these business services for marketing, production, cost and convenience reasons. For example, a firm that hires a pest extermination company provides a service to the company by eliminating a nuisance and thus improving working conditions.
Another common business service is real estate brokerage. Real estate agents help companies find and rent office or retail space. They also handle property management for these spaces. Companies also need to store inventory and equipment, which is where warehouse and storage services come in handy. In addition, these companies may need to ship products to customers and clients, for which logistics services are crucial.
Lastly, businesses use various administrative services like accounting, human resources and IT support. These are typically delivered by dedicated groups within the business. However, these groups must be aligned with revenue-generating line managers to ensure that the services they provide add value to the overall business.