5992 Florists 2399 Badges, pet toys, flags, hammocks, etc. 3149 Other footwear, except rubber shoes 3172 Money holders, cases, etc. SBA Size Standards, Data Append Services Consulting SIC Code | Business and Management Consulting - Wise 1622 Bridges, tunnels & elevated highways Nondestructive Testing Services in the US 3.31 6. Remember that codes apply to specific industries, not individual businesses. 8052 Intermediate care facility Provides subnational economic data by industry, including the number of establishments, employment, first quarter payroll, and annual payroll. Please enter your email address. Bad Weather Won't Ruin Your Vacation Anymore , Retirees Are Earning Up to $20,000 Per Month With. 3873 Watches & clocks 1455 Kaolin & ball clay Many people dream of being their own boss, calling the shots and becoming an entrepreneur. Entrepreneur and its related marks are registered trademarks of Entrepreneur Media Inc. "You don't find customers for your products. Community Right-To-Know; Adopting 2022 North American Industry 8031 Osteopathic offices Am I Exempt from OSHA's Recordkeeping Requirements? - SHRM 1542 Other building construction 5193 Flowers/florists supplies 21XX Tobacco Products 94XX Administration of Human Resources 7832 Movie theaters, except drive-ins Required fields are marked *. Other metrics that lenders rely on besides your NAICS code are the current . 1522 Hotels and motel building contractors Industries were no longer composed of a few establishments scattered across the United States; instead, multiple businesses were opening and operating under the umbrella of their main source of industrial income. 3274 Lime Explore Opportunities. 3996 Hard surface floor covering 2111 Cigarettes How does the SIC or NAIC codes effect - Asset Profile 2062 Cane sugar refining 3353 Aluminum sheet, plate & foil 8211 Elementary & secondary schools 3399 Metal powders, pastes, fasteners, etc. Any industry that isnt classified as high risk or part of the auto-ban list, is going to be low risk by default. of Minerals in SIC 1499. There are 6 more tips for establishing business credit here: https://www.nav.com/resource/how-to-establish-business-credit/ Hope that helps! And were going to cover how to avoid getting declined for an SIC code. 4931 Electric, combined with other services 2435 Hardwood veneer & plywood 2672 Coated and laminated paper, including sandpaper NAICS uses a hierarchical structure. You will receive mail with link to set new password. Company Lookup Tool, Contact Us 9611 General economic programs, administration Blog Details - Wealthbuilders365 6798 Real estate investment trusts realty 5932 Used merchandise stores And according to SmallBizTrends, 69 percent of U.S. entrepreneurs start their businesses at home. Low and High Risk SIC Codes for Business Credit 5251 Hardware stores Double check that the SIC or NAICS code associated with your business is correct by researching classification codes at Census.gov. 5049 Professional & engineering equipment 3499 Locks, ladders, novelties, etc. 47XX Transportation Services The SICCODE.com website provides a breakdown of each of these Extended SIC Code systems to assist with your self-classification. Each four-digit SIC code follows a specific designation formula in which the first two digits identify the major industry under which the business earns the majority of their revenue (primary line of business). 7032 Sporting & recreational camps 3586 Measuring and dispensing pumps Direct sales companies like Tupperware, Avon and Mary Kay hire sales representatives to sell their merchandise and market their products. 7352 Medical equipment rental 2426 Hardwood furniture, blocks & flooring 7361 Private employment agencies Do you know your NAICS Code and want to know its corresponding SIC Codes as well? Merchant banks often invest in the debt of private companies in the form of mezzanine financing and senior loans. 5153 Grain & beans 7041 Member hotels & lodging houses Choose a Low-Risk NAICS Code for Your Business - Facebook 3599 Amusement park rides, flexible metal hose, etc. Gain financial stability like never before! Want to avoid high risk industries? You can take the skills you already have and use them to advise clients, as a consultant. You can then market your tutoring services online or through a site like Tutor.com to get the word out. 61XX Nondepository Institutions The company will provide the tools you need . Today were going to cover essential information about the best SIC codes out there. A few examples include: 336111 identifies automakers 337124 identifies makers of metal household furniture 423420 identifies a wholesaler of office equipment NAICS Code Meaning 6794 Patent owners & lessors 9631 Government administration of utilities Low Risk Business Ideas Safe Startups | ZenBusiness Inc. 0291 Livestock & animal farms US Business Directory : Company Lookup Tool, The North American Product Classification System (NAPCS), NAICS Association Recommended Business Links. 4151 School buses 2789 Bookbinding Chelsea Manning - Wikipedia 3297 Nonclay refractories 87XX Engineering & Management Services 5611 Mens & boys clothing stores Consumer attitudes are also accelerating legalization efforts at the state level. 3644 Fuse boxes & non-current carrying conduits If you are in fact a reinsurance carrier, you should be classified under a different code, for which the size standard is $38.5M. Consider starting a drop-shipping business. Download Our Free Data & Marketing Industry Whitepapers. An NAICS code classifies business establishments for the purpose of collecting, analyzing, and publishing statistical data related to the U.S. economy. 3647 Car lights & mounted spotlights Note: Three sectors are represented by a range of 2-digit codes. 4833 TV stations 3364 Nonferrous die-castings 2869 Industrial organic chemicals 2674 Uncoated paper/Multiwall bags 5641 Childrens clothing stores Unprecedented disruption from the COVID-19 (coronavirus) pandemic generated the most substantial revenue decline in industry history. (These are also known as c-stores). 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. government contracts), Additionally, your NAICS or SIC code could help determine whether or not a lender will consider you for small business financing. Then you need to watch our free training video right now. I'm looking to build my business credit and want to get a DUNS number. 3799 Transportation equipment, RVs, wheelbarrows, etc. 3429 Hardware Its free to sign up and get your report. 5632 Female accessory store 53XX General Merchandise Stores 3581 Vending machines How does the SIC or NAIC codes effect whether your business is characterized as High Risk, Moderate Risk or Low Risk? What are the NAIC and SIC code numbers considered to be in a high-risk industry? 8422 Zoos & botanical gardens. 3482 Small arms ammunition; 5331 Variety stores 1061 Ferroalloy ores, except vanadium For a comprehensive list of compliance requirements of OSHA standards or regulations, refer to Title 29 of the Code of Federal Regulations. 4481 Sea transport of passengers The Extended SIC Codes, with over 10,000 individual code classifications that are being continually updated, offer more specific targeting options than NAICS Codes. 3221 Glass containers NAIC CODE/SIC CODE CAN GET YOU FLAGGED AS HIGH RISK NAIC/SIC CODE AND THE HIGH RISK CLASSIFICATION Your business may get red flagged by D&B solely based on the industry of your business. 0131 Cotton farming 1423 Crushed, broken granite 5131 Piece goods & other dry goods 5093 Scrap & waste materials 3295 Ground & treated minerals How Do I Find A Company's SIC Code. 3568 Bearings, bushings, couplings & chain drives Industry Group: 4-digit code. 6200 - HEALTH CARE AND SOCIAL ASSISTANCE. The following is an outline of the sections and the corresponding Division Codes: SIC Codes Last Updated: What is your experience of the website? Start using it and making on time payments and youll start to build strong scores. 6371 Pensions, health & welfare funds An SIC code (Standard Industrial Classification) is a four digit numerical code assigned by the U.S. government to businesses in order to identify the primary function of the business.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. 9111 Executive offices 3446 Ornamental metalwork You can even start your business on the side and continue your full-time job until you earn enough to cover your regular salary. 9199 General government administration 3251 Brick & structural clay tile 3949 Athletic & sporting goods 2082 Malt liquors 3695 Magnetic & optical disks, drums & tape 0214 Sheep & goats 2895 Carbon black What happens if you select a different NAICS code because you are in a high-risk industry, how will this play a part in funding? Here's a list of the top 10 NAICS codes that have conquered set-aside spending this 2021. Sitemap 5139 Footwear 4822 Telegraphs find a company's SIC Code you can use our search function on top of every page and search for a business. Explore census data with visualizations and view tutorials. 5065 Electronic parts 3564 Blowers & fans Marketing businesses fall into the major group 73 all SIC codes for this industry will start with these numbers. Taxi cabs (including the purchase of cab medallions) . A lot of standard merchant accounts have no contract. We also provide online NAICS and SIC Reference Files for instant download. 6231 Security & commodity exchanges This brings me to the subject of SIC codes. Cookie Policy 7992 Public golf courses Guide to High-Risk MCC Codes | Segpay 8811 Private households 1081 Metal mining services 3661 Telephones & phone switches 3663 Radio & TV broadcasting equipment 9441 Social & human resources administration 2032 Canned specialties 4941 Water supply 2061 Cane sugar exc refining 7622 Radio & TV repair shops NAICS Codes & Understanding Industry Classification Systems - Census.gov 7312 Outdoor advertising services 7377 Computer rental 5111 Printing & writing paper Overall, industry revenue is set to grow at a CAGR of 11.8% to $136.2 billion through 2023, including a 9.6% increase in 2023 alone. 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. 3911 Jewelry & precious metal 0752 Animal services, except veterinary 3524 Lawn & garden tractors The US still recognized SIC codes. 5946 Camera & photo supply stores 95XX Environmental Quality & Housing The SIC system classifies the economy into 11 major divisions: Agriculture, forestry, and fishing Mining Construction Manufacturing Transportation and public utilities Wholesale trade Retail. Hotels or motels. 5541 Gasoline service stations 9131 Combined executive & legislative offices 3612 Transformers 32XX Stone, Clay, & Glass Products 20XX Food and Kindred Products However, as the economy continued to grow, SIC codes faced several challenges. Medium Trucks. 3491 Industrial valves Download a free sample report today to discover the breadth and depth of information available at your fingertips! *Travel industry. 5714 Drapery & upholstery stores Medical & Recreational Marijuana Growing in the US 2.60 2. 4911 Electric companies 1629 Heavy construction, including dams and stadiums 3648 Stage & outdoor lighting equipment 3743 Railroad equipment 1611 Road construction, except elevated highways 5499 Health foods, beverage stores, etc. 6552 Land subdividers & developers 4513 Air courier services 6399 Insurance carriers These include Manufacturing (31-33), Retail Trade (44-45) and Transportation and Warehousing (48-49). 0913 Shellfish 5271 Mobile home dealers 12 Low-Cost Business Ideas for Introverts, 75 Ideas for Businesses You Can Launch for Cheap or Free, The Risk-Averse Entrepreneur's Guide to Startup Success, One Company Will Pay You to Enjoy It Rain or Shine, Scheme That Caused Her to Lose Her Home of 3 Decades, 15 Best Entrepreneurial Conferences You Need to Attend, Jeff Bezos Was Caught on Video Dancing at Coachella, But It's His '$12 Amazon Shirt' That Has the Internet in Stitches, This $150 Two-Pack of Drones Could Help Grow Your Audience on Social Media, This Six-Piece iPhone Accessory Kit Can Get Your Team Ready to Communicate, 3 Bad Habits Most Entrepreneurs Are Guilty Of And the Simple Solution for Stopping, 'Bare Minimum Mondays' Could Mean Productivity 'Hell' for the Rest of the Week, Expert Warns Here's How to Prevent It.