3716 Motor homes 2068 Salt/roast nuts/seeds Use the SIC to NAICS Crosswalk. 2082 Malt liquors 5031 Lumber, plywood, millwork ) or https:// means youve safely connected to the .gov website. In a post for The Balance, business writer Susan Ward wrote, "When you're starting a business, you need to become an expert on your industry, products and services if you're not already. 1479 Chemical mineral mining, including fertilizers 3448 Prefabricated metal buildings This lack of standardization would leave one agencys work and analysis fairly useless to other parties that may be interested in or benefit from the same information. 3161 Luggage If so, they are less likely to get a SIC code. I really appreciate your advice! 2671 Coated and laminated paper packaging Get your full business credit reports & scores, PLUS Nav reports your account payments to the business bureaus as a tradeline. 2341 Womens underwear 2895 Carbon black 2034 Dried fruits/veggie/soup mixes Some low-risk service businesses include lawn care and house cleaning. 0241 Dairy farming Segment markets for professional use or to identify key competitors in both public and private markets. Phone sales and direct selling establishments. 3572 Computer storage devices 2389 Uniforms, costumes & accessories A SIC Code is self-classified and the primary code associated with your company can change as your business evolves. 2066 Chocolate & cocoa products 93XX Finance, Taxation & Monetary If you would like to change your settings or withdraw consent at any time, the link to do so is in our privacy policy accessible from our home page.. Research from AARP finds that 90 percent of seniors want to live independently by staying in their own homes as they age. 2141 Tobacco stemming/redrying SIC Codes break down all of the various industries in existence into an organized classification system. Lead Generation 6163 Loan brokers We know there isn't much more frustrating than being without your vehicle while it gets repaired. 9211 Courts Local, Magistrate, Justice, State & Federal Court 4581 Airports & hanger services 2952 Asphalt felts & coatings Additionally, your NAICS or SIC code could help determine whether or not a lender will consider you for small business financing. 3585 Refrigeration, air conditioning & heating equipment *Adult entertainment. 3369 Nonferrous foundries, except copper and aluminum Share sensitive information only on official, secure websites. At CSA Group, you'll contribute to the safety of many industries, from consumer products to nuclear plants and beyond. ", On his blog, Seth Godin wrote:"You don't find customers for your products. This website uses cookies to improve your experience while you navigate through the website. Lost your password? The valid Standard Industrial Classification (SIC) Codes must be used for Employment Tax Incentive (ETI) purposes. 2835 In-vitro and in-vivo diagnostics 6019 Central reserve depository 2879 Pesticides & agricultural chemicals A SIC Code describes the primary business activity of a company. 2813 Industrial gases 5014 Tires & tubes We also use third-party cookies that help us analyze and understand how you use this website. 6733 Other trusts 3579 Letter & paper handlers & word processors 3264 Porcelain electrical supplies 2873 Nitrogen fertilizers Regarding trade financing, merchant banks provide foreign corporate investment and international transaction facilitation services; they also offer lines of credit and issue letters of credit between importers and exporters. 9223 Correctional institutions 5611 Mens & boys clothing stores 2047 Dog & cat food NAICS to SIC Crosswalk 3544 Special dies & tools Based on the expert analysis and our database of 1,300+ US industries, IBISWorld presents a list of the Industries with Least Risky Business Environments in the US in 2023. 3021 Rubber & plastic footwear At the same time, exceptions have been made to include certain governmental activities in the economic census: In addition, the economic census does include the activities of private contractors that may be carrying out governmental functions on contract. Help improve the safety of people all around the world while challenging yourself and advancing your career. 5949 Sewing & needlework stores Analytics cookies allow us to better understand how users interact with our website, which can help us to determine how we can improve our services to our users. This article was originally written on December 7, 2015 and updated on October 5, 2020. 3553 Woodworking machinery 0211 Beef cattle feedlots However, SIC codes are still used by some organizations and agencies, and you can still review the directory to find out which one best describes the primary business activity of your company. 7922 Movie producers 5943 Stationery stores 7997 Membership sports & recreation clubs 3355 Aluminum rolling & drawing 9621 Transportation programs administration 3645 Residential lighting Share your ideas in the comments below: Entrepreneur and Marketer, Co-founder of Web Profits. 2381 Gloves, except knit or leather gloves 6011 Federal reserve banks To sign up for updates please enter your email address. Now, you just need a product. 3641 Electric lamps & bulbs 7641 Reupholstery & furniture repair The 10 Industries with Least Risky Business Environments in the US Industry Business Environment Risk for 2023 1. 6712 Bank holding companies offices 2429 Wooden barrels, shavings & shingles The provided High Risk/Cash Intensive businesses by NAICS do not constitute an officially sanctioned list. 1044 Silver ores 24XX Lumber and Wood Products 7217 Carpet & upholstery cleaning Gain financial stability like never before! The company will provide the tools you need . 2021 Creamery butter 7200 - ACCOMMODATION AND FOOD . An investor may bear a risk of loss of some or all of their capital invested. Long distance or over-the-road trucking. Purchase Downloadable Electronic NAICS & SIC Reference Files including: 2012 NAICS Codes & Titles Listed Numerically, 2012 NAICS Alphabetic Keyword Index, and the SIC Standard Industry Classification Listing. These codes typically end in the number "9". 3593 Fluid power cylinders & actuators Double check that the SIC or NAICS code associated with your business is correct by researching classification codes at, . 3495 Wire springs 37XX Transportation Equipment ), Funds, Trusts, and Other Financial Vehicles, Colleges, Universities, and Professional Schools, Labor Unions and Similar Labor Organizations, Public electric, gas, water and sewer utilities, Highway construction performed by government employees, Post exchanges, ship stores and similar establishments operated on military posts by agencies of the federal government, Publicly-operated buses and subway systems, Municipal ambulance services and County or city nursing care services. Not sure where you want to remove it from. They also have strict KYC requirements to safeguard their buyer data and confirm the accounts to stop fraudulent actions. 7215 Coin-operated laundries By the way, just this tip is worth its "weight in gold". Learn More, The Merchant Banking Services industry has grown moderately through the end of 2023. If you arent able to find an SIC code related to your industry, try contacting support and see if they know which one it is. 3965 Buttons, fasteners, pins & needles 47XX Transportation Services Federal Reserve Banks, foreign banks, mortgage companies, bail bond companies, mutual fund managers, banks, bank holding companies,loan brokers, commodity brokers, security brokers, mortgage brokers, or mortgage bankers. 2421 Sawmills & planing Employers are not required to keep OSHA injury and illness records for any establishment classified in the following North American Industry Classification System (NAICS), unless they are asked in writing to do so by OSHA, the Bureau of Labor Statistics (BLS), or a state agency operating under the authority of OSHA or the BLS. 3635 Household vacuum cleaners 89XX Services, NEC SICCODE Business Data Powering the World's Top Companies, For More Specialized Data and Services, Visit our, SIC Code Definition / History / Structure, SIC Code 2299 - Textile Goods, Not Elsewhere Classified, SIC Code 5149 - Groceries and Related Products, Not Elsewhere Classified, SIC Code 7389 - Business Services, Not Elsewhere Classified, SIC Code 4789 - Transportation Services, Not Elsewhere Classified. 2435 Hardwood veneer & plywood We have created a 70 minute training video you can watch for free. 2284 Thread mills 44XX Water Transportation Analyze your business cash flow with Navs mobile app. 8721 Accounting, auditing & bookkeeping If you are in fact a reinsurance carrier, you should be classified under a different code, for which the size standard is $38.5M. 7933 Bowling alleys NAICS codes are used in many of the same ways SIC codes can be used. 2449 Wood containers, tubs & crates 2353 Hats & caps 35XX Industrial Machinery & Equipment This means they are more likely to approve your business for loans. 3677 Transformers & electronic coils How would you like to do that while working from home? 3944 Games & toys Do you know your SIC Code and want to know its corresponding NAICS Codes as well? 5541 Gasoline service stations Postal Service 3582 Dry cleaning and pressing equipment Aside from adding structure and clarity to an otherwise vast and multifaceted economy, SIC codes can function in the following ways: You may have noticed that the invention and use of SIC codes was focused on use in the United States. Using the breakfast cereal as an example, the NAICS code would be built as following: Major group or sector: 31 Manufacturing, Specific Industry Type: 31123 Breakfast Cereal Manufacturing, National Industry Type: 311230 Breakfast Cereal Manufacturing in the United States. 4499 Boat rentals, cleaning & salvage services 5043 Photo equipment & supplies We recommend keeping these cookies enabled. 36XX Electronic & Electric Equipment NAICS Code Search The latest SIC Coding system can be found on Statistic SA www.statssa.gov.za. The term "high-risk" is very broad and confusing to business owners who don't understand this technical language. Businesses classified as high-risk merchants are the ones that have a greater risk of financial failure. The SBA uses these codes to categorize your business and, to qualify you for SBA loans or other government programs (e.g.
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