Business services are activities that benefit businesses without delivering a physical product. Companies use these services to improve productivity, cost, safety and convenience. Business service professionals provide an extensive range of support, including marketing, accounting, logistics and information technology. Other types of business services include warehousing and transportation.
Financial services include lending and investing money. They also involve managing risk and providing advice. For example, a bank might offer a line of credit to help businesses meet their growing needs. Another type of financial service is insurance, which offers a way to cover losses.
Another category of business services is engineering, which includes civil, mechanical and chemical engineering. These services are often project-based and may focus on a specific industry or field of expertise. For instance, a company that wants to renovate its office space might hire an engineering firm.
Lastly, management consulting firms provide expert advice and guidance to organizations in a wide range of areas. They might provide strategic planning, HR advice, and management training. Some management consulting firms also specialize in specific industries or business processes, such as supply chain management and customer relationship management.