What are SIC and NAICS Codes
SIC and NAICS codes are standardized systems for classifying businesses based on their primary activities. These codes are widely used by government agencies, researchers, and businesses for organizing data and conducting industry analysis.
- The U.S. Standard Industrial Classification (SIC) system uses a two to four-digit numerical code to categorize the industries that companies belong to based on their business activities. SIC codes were mostly replaced by the six-digit North American Industry Classification System (NAICS).
For more information and to search SIC codes, see Standard Industry Classification (SIC) System, U.S. Department of Labor
- The North American Industry Classification System (NAICS) is the standard used by federal statistical agencies in classifying business establishments to collect, analyze, and publishing statistical data related to the U.S. business economy. NAICS, pronounces "nakes" were first adopted in 1997 to replace SIC codes.
For more information and to search NAICS codes, see North American Industry Classification System, U.S. Census Bureau
How to Use SIC and NAICS Codes for Industry Research
SIC and NAICS codes are essential tools for gathering industry-specific data and are used to:
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Access Industry Data: Find detailed statistics in the Economic Census and U.S. Census.
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Identify Business Lines: Determine the type of business in which a company operates.
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Find Competitors: Locate other businesses in the same industry.
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Compare Ratios: Benchmark company performance against industry standards.
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Generate Company Lists: Compile lists of companies within an industry.
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Find Industry News: Search databases for articles and current news on specific industries.
