Answered By: Andy Spackman Last Updated: Dec 04, 2018 Views: 2688
The North American Industrial Classification System (NAICS) and the International Standard of Industrial Classification (ISIC) codes are six digit numbers used to group businesses by their primary economic activity. They can be used to easily search for companies within a certain industry using databases like LexisNexis or Mint Global. Classification codes are also useful for looking up reports on specific industries.
NAICS codes are primarily used in North America, and they are closely compatible with ISIC codes developed by the U.N. Note that the Standard Industrial Classification (SIC) system was the official industry classification system for the United States until it was replaced by the NAICS in 1997. However, some websites and government agencies, like the Securities and Exchange Commision, still use SIC codes.
Below is a sample breakdown of NAICS codes using LexisNexis: