Business services are intangible activities that support the creation of other goods or products. The most common types of business service are information technology services, management consulting services and facility management services. Business services can also include marketing, advertising and public relations.

Companies use business services to reduce costs and focus on core operations. Businesses also turn to these services when they need expertise or specialized knowledge in a particular area. In recent years, business services have expanded rapidly as a result of technological innovation and globalization. In addition, the coronavirus pandemic has accelerated these trends by increasing demand for professional services.

A business service can be provided by an external provider or a company’s own internal team. The type of service a company chooses to use depends on the size of the company and the nature of its activities. For example, a small company can use in-house staff to provide support for day-to-day business activities, while larger organizations may prefer to outsource some or all of their business services.

The Business Services page provides a list of all business, IT and device services that you have access to in SL1. Each service displays its name, description and basic info, as well as its availability, health and risk values. In SL1, you can select one or more services to always display at the top of the list on the Business Services page by selecting the check box next to each service name. You can also delete a service from the Business Services page by clicking its Actions button ( ) and then selecting Delete Service.

There are many different types of business services available, and each has its own set of benefits and drawbacks. For example, a service-based business requires less start-up capital than a product-based business, but it must still design a compelling offering and field a skilled workforce. Business services also face challenges from the competition, which can lower their market share and profitability.

The growth of the business services sector is being driven by new technologies, a growing population and increasing incomes in emerging economies. These trends are creating a high level of demand for a wide range of business services, from basic utilities to management and marketing consultancy.

In Europe, the business services sector accounts for 11% of the EU GDP. The sector is undergoing a major transformation with the introduction of cross-border services and the development of a service economy. The European Union’s internal market legislation and policy actions are removing barriers to trade and stimulating competitiveness in the industry. The industry is also expanding into new areas such as service integration and the augmentation of traditional goods with digital services. As the economy becomes more diversified, the business services sector will play an even more important role.