Business services are activities that benefit a business without directly providing any physical products. They include everything from expertise to convenience and luxury. As a career path, they are growing in popularity. They are also a lucrative area of work and are categorized under the Financial Services umbrella. The following are some characteristics of Business services.
They are subject to regulation
There are two types of regulation: local and federal. Local regulations regulate land use and building codes, while federal regulations apply to certain kinds of transactions. Local regulations are adopted and enforced by local governments. Some types of businesses are exempt from federal oversight, such as heavy industry and power generation. Federal regulation does apply to installations on federal lands.