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Infrastructure Social infrastructure Service infrastructure

A service sector is a part of economy, including all types of commercial and non-commercial services provided by enterprises, organizations and individuals.

A services sector includes:

  • catering services;
  • financial services;
  • information services;
  • household services;
  • tourism services;
  • legal services;
  • hotel services;
  • security services;
  • translation services;
  • trading services.

Service infrastructure is a set of companies that provide different types of services such as trade, transport or marketing companies. Developed service infrastructure should have variety kinds of services.

Service infrastructure is an essential component of business relations. Detached types of service infrastructure are: production infrastructure of services market (sectors of economy providing industrial maintenance); social infrastructure of services market (sectors of economy making general conditions of reproduction of labor potential of a country or a region); institutional infrastructure services market (sectors of economy providing political, legal, social and economic functioning of the service sector entities).

Functions of service infrastructure are:

  • formation of market participants;
  • simplification of implementation of entrepreneurial projects for participating business relations;
  • creation of cultural aspect of human life;
  • meeting people's needs for goods and services while improving the solvency of the population;
  • economic integration and the establishment of links between service market participants.

Development of infrastructure increases maneuverability and mobility of service market, thus development of scientific and technological progress is accelerated, time-line of introduction of new technologies of granting and realization of services is reduced.

Development of services sector promotes improvement of labor specialization, appearance of additional workplaces and financial flows in budgets. It also contributes to the harmonious development of individuals, providing free time and opportunities for its beneficial usage.

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