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Frequently Asked Questions # 2
2.
What is a SIC Code? What is a NAICS Code?
A
SIC Code, or Standard Industrial Classification
Code, is a four-digit number assigned by the
government to various distinct business
industries. Its purpose is to numerically
represent the entire field of economic
activities: agriculture, forestry, fishing,
hunting, trapping, mining, construction,
manufacturing, transportation, communications,
electric, gas, sanitary services, wholesale
trade, retail trade, finance, insurance, real
estate, personal, business, professional,
repair, recreation, public administration, and
other services.
The
SIC Code was developed for use in the
classification of establishments by type of
activity in which they are engaged; for purposes
of facilitating the collection, tabulation,
presentation, and analysis of data relating to
establishments; and for promoting uniformity and
comparability in the presentation of statistical
data collected by various agencies of the United
States Government, State Agencies, Trade
Associations, and Private Research
Organizations.
The
SIC classification system is gradually being
replaced by the North American Industry
Classification System (NAICS). This common
classification system was created to replace the
existing classification system of each country
in North America.
For
more information, please refer to:
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