NAICS Code 5614 - Business Support Services

NAICS 5614 - Business Support Services

NAICS 56 - Administrative and Support and Waste Management and Remediation Services
NAICS 11 - Sector 11--Agriculture, Forestry, Fishing and Hunting NAICS 21 - Sector 21--Mining NAICS 22 - Sector 22--Utilities NAICS 23 - Sector 23--Construction NAICS 31 - Sector 31-33--Manufacturing NAICS 42 - Sector 42--Wholesale Trade NAICS 44 - Sector 44-45--Retail Trade NAICS 48 - Sector 48-49--Transportation and Warehousing NAICS 51 - Sector 51--Information NAICS 52 - Sector 52--Finance and Insurance NAICS 53 - Sector 53--Real Estate and Rental and Leasing NAICS 54 - Sector 54--Professional, Scientific, and Technical Services NAICS 55 - Sector 55--Management of Companies and Enterprises NAICS 56 - Sector 56--Administrative and Support and Waste Management and Remediation Services NAICS 61 - Sector 61--Educational Services NAICS 62 - Sector 62--Health Care and Social Assistance NAICS 71 - Sector 71--Arts, Entertainment, and Recreation NAICS 72 - Sector 72--Accommodation and Food Services NAICS 81 - Sector 81--Other Services (except Public Administration) NAICS 92 - Sector 92--Public Administration
- NAICS 561 - Administrative and Support Services
  NAICS 561 - Administrative and Support Services NAICS 562 - Waste Management and Remediation Services
  - NAICS 5614 - Business Support Services
    NAICS 5611 - Office Administrative Services NAICS 5612 - Facilities Support Services NAICS 5613 - Employment Services NAICS 5614 - Business Support Services NAICS 5615 - Travel Arrangement and Reservation Services NAICS 5616 - Investigation and Security Services NAICS 5617 - Services to Buildings and Dwellings NAICS 5619 - Other Support Services

This industry group comprises establishments engaged in performing activities that are ongoing routine business support functions that businesses and organizations traditionally do for themselves.

Industry trends:

The Business Support Services industry (NAICS 5614) is experiencing several significant qualitative trends. One notable trend is the increasing integration of artificial intelligence and automation technologies. These technologies are streamlining various business processes, from customer service to data management, thereby enhancing efficiency and reducing operational costs. Additionally, there is a growing demand for personalized customer service solutions, driven by heightened expectations from consumers for tailored experiences.

Remote work is another pivotal trend shaping the industry. The COVID-19 pandemic accelerated the adoption of remote working arrangements, and many businesses are continuing to embrace flexible work models. This shift is prompting business support service providers to adapt their offerings to support a dispersed workforce, including remote IT support, virtual office management, and digital collaboration tools.

Looking ahead, the industry is forecasted to see sustained growth as businesses increasingly outsource non-core functions to focus on their main activities. The rise in cybersecurity threats is also expected to drive demand for business support services specializing in safeguarding data and ensuring compliance with regulatory requirements. Moreover, as businesses continue to globalize, there will be a higher demand for multilingual support services capable of catering to diverse markets.

Overall, the combination of technological advancements, evolving work models, and the need for specialized support in a complex business environment suggests that the Business Support Services industry will continue to adapt and expand in the near future.