Business services are activities that help organizations, but they do not always result in a tangible product. For example, computer software services enhance features and upgrade security, while a tech support worker helps firms promptly solve technical issues that affect their productivity.
Businesses also use these types of services to outsource labor that doesn’t fall within their expertise or capability. For instance, a company might use a landscaping agency to design and manage the landscape surrounding its office.
They might hire a real estate agent to find a space as per their needs or they might use a car rental service to rent cars at the airport. They might also hire an insurance agency to reduce their financial obligations by insuring their property and employees’ lives.
There are three main types of business services: B2B, social, and personal services. In B2B services, entrepreneurs facilitate and enforce customer relationships through contracts. They may sell products and services directly to customers. In social services, they benefit society by raising funds through taxes and charitable organizations. In personal services, entrepreneurs facilitate and enforce customer relationships through services agreements.