Services account for more than 70% of the GDP in EU, and Business Services is the fastest growing service industry. Business services represents around 12% of the European economy and are key drivers in increasing European productivity and transforming the European economy. In the latest calculations from Eurostat (2014) business services grew by 6,1 %, an impressive growth rate in a period where other parts of the economy is struggling. Business services on EU-28 average account for 10% of employment, and in some member states up to more than 16% (The Netherlands). These employees are employed in 1,3 million businesses of all sizes throughout the EU.
Business services hence have a significant impact on jobs and growth in the EU, and the growth potential is still high. As recognized by the Commission in its Single Market Strategy the single market for services is still far from completed, and business service providers covered by the services directive and some sectors covered by specific sectoral directives face substantial obstacles when operating in different EU member states. EBSA’s goal is also to minimise these obstacles and create a real single market for those business services in order to allow the full potential of these sectors to be unleashed.
The High Level Group on Business Services, established by the Commission in 2013, pointed to the importance of business services for the revitalisation of European economy and competitiveness. Business services are important for well-functioning value chains, and with the increased servicification of industry, they are becoming more and more significant. The High Level Group issued recommendations to the Commission, member states, and industry on how to improve the internal market for services and foster the growth of business services. EBSA will follow up on these recommendations and keep pressure on the institutions to have business services at the top of their mind.
Read more about the High Level Group on Business Services and find the report here
Business services are also accounting for an increasing share of exports and imports. For more information on the external dimensions of the services sector visit European Services Forums homepage