What are SIC & NAICS Codes?
Standard Industrial Classification (SIC) codes and North American Industry Classification System (NAICS) codes are numerical classification systems created by the United States government. These systems are used to group/classify similar companies into industries for the purposes of collecting, analyzing, and publishing statistical data related to the U.S. business economy.
What is the difference between SIC and NAICS?
The SIC system was originally developed in the 1930s and was last updated in 1987. The NAICS system was first released in 2002 and last updated in 2017. While NAICS has "officially" replaced SIC, many business directories and databases still use one or both of the systems. Therefore, it is important to know about both SIC and NAICS.
How NAICS and SIC codes used?
You can use these codes to find information about industries in business databases and directories. Use the codes to: