Whether they’re cleaning your office, installing new software or helping you prepare tax returns, business services companies offer a variety of essential tasks that businesses need but cannot or don’t want to do for themselves. From administrative help to logistics and waste handling, these businesses help large firms save money, improve productivity and focus on their core operations.
Unlike goods, which can be stored for later use, services are delivered when they’re needed. That’s why a service-based company may charge more for its services than one that sells products, Spinelli says.
Because of the intangible nature of business services, it’s important to create a pricing strategy that works for your industry and clients. Make sure to include labor, overhead expenses, equipment, materials and markups in your fees. You should also do your homework before launching a business to see what others in the area are charging for their services. Don’t copy competitors, though—their prices reflect a number of factors that might differ from your own.
If you’re interested in a career in business services, be aware that the job can be stressful and fast-paced. If you don’t handle pressure well, it may not be the right field for you. Many business service jobs are done remotely, which can be beneficial for those who need flexible schedules or have to travel often for work. This type of work also can provide great opportunities for advancement. The EU Internal Market has created an initiative called the Services Directive EN*** that provides a framework for more flexible worker mobility and other measures to boost competitiveness in this sector.