Business & Professional Services

The business and professional services industry is made up of three parts:

1.     The professional, scientific, and technical services sector
2.     The management of companies and enterprises sector
3.     The administrative and support and waste management and remediation services sector

The professional, scientific, and technical services sector comprises establishments that specialize in performing professional, scientific, and technical activities for others. Activities performed include:

1.     legal advice and representation
2.     accounting, bookkeeping, and payroll services
3.     architectural, engineering, and specialized design services
4.     computer services
5.     consulting services
6.     research services
7.     advertising services
8.     photographic services
9.     translation and interpretation services
10.   veterinary services
11.   other professional, scientific, and technical services

The management of companies and enterprises sector comprises:

1.     establishments that hold the securities of (or other equity interests in) companies and enterprises for the purpose of owning a controlling interest or influencing management decisions
2.     establishments (except government establishments) that administer, oversee, and manage establishments of the company or enterprise and that normally undertake the strategic or organizational planning and decision-making role of the company or enterprise.

The administrative and support and waste management and remediation services sector comprises establishments performing routine support activities for the day-to-day operations of other organizations. These essential activities are often undertaken in-house by establishments in many sectors of the economy. Activities performed include:

1.     office administration
2.     hiring and placing of personnel
3.     document preparation and similar clerical services
4.     solicitation
5.     collection
6.     security
7.     surveillance services
8.     cleaning
9.     waste disposal services

Training Programs  

Engineering/Industrial Management
Engineering/Industrial Management. A program that focuses on the application of engineering principles to the planning and operational management of industrial and manufacturing operations, and prepares individuals to plan and manage such operations. Includes instruction in accounting, engineering economy, financial management, industrial and human resources management, industrial psychology, management information systems, mathematical modeling and optimization, quality control, operations research, safety and health issues, and environmental program management.

Theatre/Theatre Arts Management
Theatre/Theatre Arts Management. (NEW) A program that prepares individuals to apply business management principles to the management of theatres and production corporations. Includes instruction in theatrical production, theatre design and planning, fund-raising and promotion, investment strategies, human resources management, theatre operations management, marketing, public relations, financial management and insurance, and applicable laws and regulations.

Industries in the Securities, Commodity Contracts, and Other Financial Investments and Related Activities subsector group establishments that are primarily engaged in one of the following: (1) underwriting securities issues and/or making markets for securities and commodities; (2) acting as agents (i.e., brokers) between buyers and sellers of securities and commodities; (3) providing securities and commodity exchange services; and (4) providing other services, such as managing portfolios of assets; providing investment advice; and trust, fiduciary, and custody services.

Banking and Financial Support Services
Banking and Financial Support Services. An instructional program that prepares individuals to perform a wide variety of customer services in banks, insurance agencies, savings and loan companies, and related enterprises. Includes instruction in communications and public relations skills, business equipment operation, and technical skills applicable to the methods and operations of specific financial or insurance services.

Financial Planning
Financial Planning. An instructional program that prepares individuals to plan and manage the financial interests and growth of individuals and institutions. Includes instruction in portfolio management, investment management, estate planning, insurance, tax planning, strategic investing and planning, financial consulting services, and client relations.

Finance, General
Finance, General. An instructional program that generally prepares individuals to plan, manage, and analyze the financial and monetary aspects and performance of business enterprises, banking institutions, or other organizations. Includes instruction in principles of accounting; financial instruments; capital planning; funds acquisition; asset and debt management; budgeting; financial analysis; and investments and portfolio management.

Bookkeeping
An instructional program that prepares individuals to compute, classify, and record numerical data to keep financial records and ledgers and prepare tax reports and monthly statements.

Finance and Insurance
The Finance and Insurance sector comprises establishments primarily engaged in financial transactions (transactions involving the creation, liquidation, or change in ownership of financial assets) and/or in facilitating financial transactions. Three principal types of activities are identified:  1. Raising funds by taking deposits and/or issuing securities and, in the process, incurring liabilities. Establishments engaged in this activity use raised funds to acquire financial assets by making loans and/or purchasing securities. Putting themselves at risk, they channel funds from lenders to borrowers and transform or repackage the funds with respect to maturity, scale and risk. This activity is known as financial intermediation. 2. Pooling of risk by underwriting insurance and annuities.

Establishments engaged in this activity collect fees, insurance premiums, or annuity considerations; build up reserves; invest those reserves; and make contractual payments. Fees are based on the expected incidence of the insured risk and the expected return on investment. 3. Providing specialized services facilitating or supporting financial intermediation, insurance, and employee benefit programs. In addition, monetary authorities charged with monetary control are included in this sector.

Financial Investment & Related Activity
Industries in the Securities, Commodity Contracts, and Other Financial Investments and Related Activities subsector group establishments that are primarily engaged in one of the following: (1) underwriting securities issues and/or making markets for securities and commodities; (2) acting as agents (i.e., brokers) between buyers and sellers of securities and commodities; (3) providing securities and commodity exchange services; and (4) providing other services, such as managing portfolios of assets; providing investment advice; and trust, fiduciary, and custody services.

Financial Transaction Process/Clearing
This industry comprises establishments primarily engaged in providing one or more of the following: (1) financial transaction processing (except central banks); (2) reserve and liquidity services (except central banks); and (3) check or other financial instrument clearinghouse services (except central banks). Illustrative Examples: Automated clearinghouses, bank or check (except central banks); Check clearing services (except central banks); Credit card processing services; Electronic funds transfer services.

Other Financial Investment Activities
This industry group comprises establishments primarily engaged in one of the following: (1) acting as principals in buying or selling financial contracts (except investment bankers, securityes dealers, and commodity contracts dealers); (2) acting as agents (i.e., brokers) (except securities brokerages and commodity contracts brokerages) in buying or selling financial contracts; or (3) providing other investment services (except securities and commodity exchanges), such as portfolio management; investment advice; and trust, fiduciary, and custody services.

All Other Financial Investment Activity
This industry comprises establishments primarily engaged in acting as agents or brokers (except securities brokerages and commodity contracts brokerages) in buying and selling financial contracts providing financial investment activities (except securities and commodity exchanges, portfolio management, and investment advice). Illustrative Examples: Bank trust offices; Escrow agencies (except real estate); Fiduciary agencies (except real estate); Stock quotation services.