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What's a SIC Code?
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ABOUT SIC codes
What is a SIC Code?
Standard Industrial Classification (SIC) codes are four digit numerical
codes assigned by the U.S. government to business establishments to
identify the primary business of the establishment. The classification
was developed to facilitate the collection, presentation and analysis
of data; and to promote uniformity and comparability in the presentation
of statistical data collected by various agencies of the federal government,
state agencies and private organizations. The classification covers all
economic activities: agriculture, forestry, fishing, hunting and trapping;
mining; construction; manufacturing; transportation; communications,
electric, gas and sanitary services; wholesale trade; retail trade;
finance; insurance and real estate; personal, business, professional,
repair, recreation and other services; and public administration.
Reading a SIC Code
The first two digits of the code identify the major industry group, the
third digit identifies the industry group and the fourth digit identifies
the industry.
For example:
| 36 |
ELECTRONIC & OTHER ELECTRIC EQUIPTMENT |
| 367 |
ELECTRONIC COMPONENTS & ACCESSORIES |
| 3672 |
PRINTED CIRCUIT BOARDS |
Note: The digit "9" is used in the third or fourth digit position of
the classification code to designate miscellaneous industries not
elsewhere classified (NEC). These miscellaneous classifications are not
comprised of homogeneous primary activity groups. They are grouped together
and treated as a seperate industry in order to retain the homogeneity of
the other industries in the group.
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In 1987 the Office of Management and Budget (OMB) dramatically revised the SIC codes in
accordance to the rapid changing economy.
In 1992, as a direct result of the 1991 International Conference on the Classification of
Economic Activities, OMB established the Economic Classification Policy Committee to
develop a new classification system. In 1997 it was announced that the new system NAICS
(North American Industrial Classification) would strive for compatibility to include
Canada and Mexico with a thorough evaluation of incompatible areas in all three systems.
This will include all new and emerging industries, services, and advanced technologies. It
has been decided that the system will go from a 4-digit (SIC) to a 6-digit (NAICS) system.
SICCODE.com™ has included a program that will help visitors and members locate their
NAICS comparative number for the future. Also, we have added a 2-digit suffix number
system to the SIC codes to allow businesses to define their product/service for a more
direct identification. This feature will allow a potential customer to expedite a quote
(e-quote) request and receive a more defined result.
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For more info or any questions about SIC codes contact info@siccode.com
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