Business Services in Europe
Business services are a wide range of activities that support the operations of other businesses. They include such activities as warehousing, marketing, consulting, transportation and shipping, staffing services, administrative services, waste handling, and many others. Business services are an important part of the economy, providing employment to millions of workers and accounting for over 11% of the EU’s GDP. They also offer a unique opportunity for the’servitisation’ of European economies, as they can be combined with goods to create new products and enhance existing ones.
In this article we will take a look at the main activities in this sector and some of its key trends. We will highlight how business services are becoming increasingly important in enhancing the value of products and supporting manufacturing, and explore what role they can play in helping Europe to become more competitive in global markets.
ITA provides market research, data tools, and information for exporters of business services, including business-to-business shipping, telecommunications, IT and IT security, and other professional services. In addition, ITA has experts available to assist in the development of trade strategies for the business services sector.
There are several key characteristics of business services that make them different from goods. One is their intangibility – unlike goods, they cannot be physically seen or touched. Another is their inseparability – production and consumption of a service occur simultaneously. This means that customer involvement is crucial for clarifying requirements, conveying expectations and setting service-level agreements (SLAs). Finally, since services are provided in response to a customer’s demand, their quality and performance can vary from time to time.