what is an naics code

8 months ago 43
Nature

The North American Industry Classification System (NAICS) is the standard used by federal statistical agencies in classifying business establishments for the collection, analysis, and publication of statistical data related to the U.S. business economy

. It was developed to allow for a high level of comparability in business statistics among North American countries

. NAICS is a self-assigned system, meaning that businesses choose the code that best suits their operations when asked for their code

. Some key aspects of NAICS include:

  • Hierarchical Structure : NAICS uses a hierarchical structure, with codes organized into sectors, subsectors, and industries
  • Production-Oriented Concept : NAICS groups establishments into industries according to similarity in the processes used
  • Wide Range of Industries : NAICS covers a wide range of industries, from agriculture and manufacturing to retail trade and transportation

To find the appropriate NAICS code for your business, you can use the NAICS Search Tools provided on the NAICS Association website

. If you still cannot find your code, you can contact the Census Bureau for assistance

. Keep in mind that some organizations may associate a NAICS code with you when they interact with you, and they can be reached out to if you feel an agency has given you an incorrect code