TeachMeFinance.com - explain Standard Industrial Classification (SIC) Code
Standard Industrial Classification Code
(SIC CODE NUMBER) -- A four digit number assigned to identify
a business based on the type of business or trade and manufacturing,
while the last two digits correspond to subgroups such as
constructing homes versus constructing highways. A business
can determine its SIC number by looking it up in a directory
published by the Department of Commerce, or by checking in
the SIC book in the reference section of a local library.
SBA size standards are based on SIC codes.
Standard Industrial Classification (SIC) Code -- A code representing a category within the Standard Industrial Classification System administered by the Statistical Policy Division of the U.S. Office of Management and Budget. The system was established to classify all industries in the US economy. A two-digit code designates each major industry group, which is coupled with a second two-digit code representing subcategories.
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