NAICS and SIC Code Service
The North American Industrial Classification System and Standard Industrial Classification codes are used to identify any firm’s principal business activity. Every registered firm will have these codes. For example, if the firm has NAICS code 211, then it comes under the Oil and Gas Extraction segment. On the other hand, the firm with SIC code 251 clearly states Household furniture industry.
The federal government developed both the NAICS and SIC systems. The Office of Management and Budget (OMB) in the U.S., as well as other U.S. statistical organizations, use these codes.
What is the NAICS Code?
The North American Industry Classification System or known as NAICS is primarily used to classify, compare as well as assess the businesses in the United States, Mexico, and Canada. Adopted in 1997, NAICS is a 6-digit code system that helps in categorizing business establishments into different industrial categories and also supplies all the necessary information of it.
How to Read the NAICS Code by Yourself?
As mentioned above, NAICS code is 6-digit long which provides all the information that is necessary to define an industry. To clearly understand your target market, you have to break this code into smaller parts. That is, the first two digits in this code tell you about the business sector. NAICS codes groups the economy into 20 main segments.
|Main Sector||54||Professional, Scientific, and Technical Services|
|Sub Sector||541||Professional, Scientific, and Technical Services|
|Industry Group||5415||Computer Systems Design and Related Service|
|Industry||54151||Computer Systems Design and Related Services|
|U.S Industry||541511||Custom Computer Programming Services|
A Complete NAICS Code for Technology Related Services
|5415||Computer Systems Design and Related Services|
|54151||Computer Systems Design and Related Services|
|541511||Custom Computer Programming Services|
|541512||Computer System Design Services|
|541513||Computer Facilities Management Services|
|541519||Other Computer Related Services|
|5416||Management, Scientific, and Technical Consulting Services|
|54161||Management Consulting Services|
|541611||Administrative Management and General Management Consulting Services|
|541612||Human Resource Consulting Services|
|541613||Marketing Consulting Services|
|541614||Process, Physical Distribution, and Logistics Consulting Services|
|541618||Other Management Consulting Services|
|56131||Employment Placement Agencies and Executive Search Services|
|561311||Employment Placement Agencies|
|561312||Executive Search Service|
|56132||Temporary Help Service|
|561320||Temporary Help Service|
|61143||Professional and Management Development Training|
|611430||Professional and Management Development Training|
What is SIC Code?
SIC code stands for the Standard Industrial Classification (SIC) system. It is a four-digit code that classifies different industries. NAICS code has replaced SIC codes because of the need to have the additional technology-based classification. Also, the limited scope and difficulty to determine the exact group made people choose NAICS over SIC system. But many companies still find SIC code reliable and straightforward to use.
How to Read the SIC Code by Yourself?
The SIC system groups the economy into 11 divisions. Break this numbers to get 83 two-digit groups that identify the primary industry type. This group undergoes further classification to form 416 three-digit industry clusters. It is then finally segmented to form 1,005 four-digit industries. Whereas, you can use number “9” on the third or fourth digit position if you cannot locate the sector. It indicates NEC or Not Elsewhere Classified industries.
|Major Group||73||Business Services|
|Industry Group||737||Computer Programming, Data Processing, And Other Computer Related Services|
|Industry||7371||Computer Programming Services|
A Complete SIC Code for Technology Related Services
|7371||Computer Programming Services|
|7379||Computer Related Services, Not Elsewhere Classified|
|7373||Computer Integrated Systems Design|
|8742||Management Consulting Services|
|8748||Business Consulting Services, Not Elsewhere Classified|