SIC Code - Standard Industrial Classification
Updated: Aug 30
It is a 4-digit system created by the USA in 1937 to keep track of economic activities in different industries.
The USA, Canada, and Mexico, the stakeholders of North American Trade, renewed this system for themselves in 1997 and replaced it with the 6-digit NAICS (North American Industry Classification System) due to its limits.
SIC Code structure;
It has a hierarchical structure
The first 2 digits indicate the 10 main sectors. Digits 3 and 4 indicate subgroups
- For example; 3672 (Ref: https://en.wikipedia.org/wiki/Standard_Industrial_Classification)
36 => Electronic and Other Equipment
7 => Electronic, Component, and Accessories
2 => Printed Circuit Boards
Banks; To determine the sectors of the companies to which they will lend and the regulations and risks in these sectors.
Companies; To determine tax regulations
Marketing teams; To identify the commercial target audience
To identify competitors operating in the same field
To check tax regulations on a sectoral basis
State; To determine the regulations on a sectoral basis
SIC Code Search Screen: https://www.osha.gov/pls/imis/sicsearch.html
SIC Code List: https://www.osha.gov/pls/imis/sic_manual.html