What is a SIC code? NAICS code?

A SIC code, or Standard Industrial Classification code, is a four-digit number assigned by the government to various distinct business industries. Its purpose is to numerically represent the entire field of 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.

The SIC code was developed for use in the classification of establishments by type of activity in which they are engaged; for purposes of facilitating the collection, tabulation, presentation, and analysis of data relating to establishments; and for promoting uniformity and comparability in the presentation of statistical data collected by various agencies of the United States Government, State agencies, trade associations, and private research organizations.

The SIC classification system has recently been replaced by the North American Industry Classification System (NAICS). This common classification system was created to replace the existing classification system of each country in North America.