What is NAICS?
The North American Industry Classification System (NAICS) is a six-digit hierarchical classification system that categorises companies and institutions in the US, Canada, and Mexico according to the main economic activities they engage in. It was created collaboratively by the three nation’s statistics agencies, and the US accepted it in 1997 to take the role of the Standard Industrial Classification (SIC) system.
North American Industry Classification System (NAICS) in Software Development
The North American Industry Classification System (NAICS) is a standardized industry classification system used by the United States, Canada, and Mexico. NAICS is a hierarchical system that helps in the classification of businesses into 20 sectors, 87 subsectors, and 346 industry groups based on their primary activities. NAICS codes are used by businesses to identify themselves, and by government agencies to collect and analyze data on the economy.
Table of Content
- What is NAICS?
- Why NAICS?
- How can businesses determine the correct NAICS code?
- Who has the authority to assign NAICS codes to businesses and how?
- How do Industries use NAICS?
- What is the NAICS index and its corresponding entries?
- Purpose of NAICS:
- Businesses engaged in Custom Computer Programming Services:
- Conclusion