Business brokers form a growing $1.8 billion U.S. market boosted by the large number of businesses now being sold by retiring Baby Boomers, Millennials, and others. The market is 80% untapped as only 20% of the businesses sold are sold by business brokers.

The consulting industry is undergoing rapid transformation, driven by technological advancements, changing client expectations, and evolving global markets. Understanding these trends is crucial for capitalizing on emerging opportunities and staying ahead in a competitive landscape.

Companies in the business services sector provide a wide variety of B2B services such as security, commercial landscaping, waste management, pest control, and cleaning, as well as administrative services such as temporary staffing, business consulting, and payroll processing.

The global management consulting services market size will grow from $976.3 billion in 2022 to $1,022.2 billion in 2023 at a compound annual growth rate (CAGR) of more than 4%, according to The Business Research Company’s Management Consulting Services Global Market Report 2023.

The $15 billion U.S. collection agencies industry, like many other services, was affected by the pandemic — but in a good way.

The demand for office furniture dipped during the COVID-19 pandemic as economic activity slowed and employees transitioned to working remotely. Businesses had little incentive to purchase furniture for empty workspaces.

The Coronavirus epidemic of 2020 altered the employment landscape dramatically. Large numbers of outstanding companies were forced to lay off employees due to both a rapid decline in revenues and uncertainty about the future.

The declaration of COVID-19 as a health pandemic across the globe, followed by emergency lockdown in several economies for long durations, has subsequently affected the financial conditions of the companies operating in the video surveillance industry.

This $117 billion U.S. business, which encompasses basic janitorial services, pest control, and other building maintenance, is huge but very competitive, comprised of mainly small operators, including 36,000 franchised outlets. Competitors run the gamut, from sole proprietors to giants such as ABM Industries with $6.5 billion in revenues. This is a low-investment business that’s easy to enter, and many do.

Professional services form a vast, growing market with a highly educated workforce and some of the world’s most valuable, recognized brands. Professional services encompass a broad range of segments including portfolio management & investment advice, legal services, banking, securities trading, tax preparation & accounting, and other services.