Companies in the business services sector provide a variety of B2B services such as security, landscaping, and waste management. In the U.S., there are 390,000 companies in the business services sector with annual sales of $815 billion. The 50 largest companies make up less than 25 percent of total revenue, according to First Research Inc.
The demand for business services tends to rise and fall with the overall economy, although some services, such as pest control, are more resistant to economic downturns. Europe and the U.S. are the primary markets; however, the business services sector is growing quickly in Colombia, Mexico, India, Indonesia, Kenya, and Poland, among other areas. In this blog post, we’ll explore different types of business services and examine potential challenges and opportunities within this sector.