![]() Melissa has been helping businesses with their data quality needs for over 35 years by offering solutions that not only clean customer data, but enrich data to give businesses greater insight and help them uncover new business opportunities. SIC codes provide an efficient way to analyze and report economic metrics and are required for certain forms and applications, such as business tax returns or when applying for a loan with the SBA (Small Business Administration). In addition to properly identifying a business, they are used for tax purposes, in government statistics, classification, state and federal registration, and to determine eligibility for government contracts. SIC codes are important for many reasons. And if an industry cannot be located, the number “9” is used in the third or fourth digit position to show NEC or Not Elsewhere Classified industries. Finally, the fourth digit identifies the industry. ![]() The third digit identifies the industry group, such as Electronic Components under the Electronics category. ![]() The first two digits of a SIC code identify the major industry group, such as Manufacturing or Transportation. What Do the Numbers in an SIC Code Represent? Established in the United States in 1937, it has since been replaced by the NAICS (North American Industry Classification System), though both systems are still in use today. SIC (Standard Industrial Classification) Codes are 4-digit numerical codes used to classify businesses by industry.
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