B2B, the acronym for “business-to-business,” describing a transaction made between two businesses, as opposed to a transaction between a business and a consumer (B2C). Just one example of a B2B transaction would be a company buying payroll services from a specialist rather than setting up their own internal accounting department. B2B solutions are usually more cost-effective than having to rely on an in-house solution to every business need.
B2B is hidden in plain sight; it’s a massive part of our everyday lives, but few people stop to consider it. Nevertheless, B2B is a gigantic part of the economy. In 2014 alone, B2B accounted for approximately half of the Gross Domestic Product for the entire United States of America.
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