SIC and NAICS Codes

What are SIC and NAICS codes?

An SIC code is a number assigned by the U. S. government to an industry, not to an individual company. The assignment is made according to the goods produced or services rendered by the industry. Business census information is based on the SIC code. Private services, in turn, attach SIC codes to companies, allowing a patron to identify companies working in a particular industry and to gather statistical information on an industry.

The SIC code system was recently changed to the North American Industry Classification System (NAICS and pronounced "Nakes"), a system created by Canada, the United States, and Mexico. One of the big changes in the NAICS system is its inclusion of the service and information industries.