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What are SIC and NAICS?

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The Standard Industrial Classification ("SIC Codes") and North American Industry Classification System ("NAICS Codes") are universal numbering methods that help identify the industry affiliation of a company. Both codes are provided in the Business Information Report for your convenience.

SIC Codes

Standard Industrial Classification codes were developed by the Federal Government in conjunction with the U.S. business community during the 1930's. They've proven to be a useful tool for professionals looking to segment domestic markets, analyze customer relationships, and conduct general business research.

SIC Codes divide all major economic activity into ten major divisions. The first two digits describe the nature of this activity in very general terms (i.e. Mining, Construction, Manufacturing). Remaining digits break down these categories into specific products and "sub-industries."

If more than one SIC Code is assigned to a company, the first one listed is the primary line of business. The remaining codes, if any, comprise at least 10 percent of the firm's annual revenue.

NAICS Codes

The North American Industry Classification System was introduced in 1997 as a replacement for SIC Codes and now serves as the standard for the three NAFTA countries of Mexico, Canada and the U.S.

Developed at the urging of leading business economists, NAICS (pronounced "nakes") offers classifications that more closely reflect the many new industries that have re-shaped the U.S. and global economy.

NAICS differs from SIC in that it focuses on business processes rather than on end products. It also captures many service industries currently under-represented in the SIC system.

Like the SIC Code, NAICS is organized into hierarchical classification groups that build from the detailed industry level. The United States, Canada and Mexico share the first five digits within the NAICS structure. The sixth digit is designed for country specific classifications and may differ from one nation to the next. However, the three countries have agreed to use many of the same six-digit designations.

While the old SIC Codes are still widely used, the Federal Government will no longer support and maintain this system. However, D&B will continue to append them in data collection and maintenance of company files.