sic codes meaning - MARKETING
SIC codes are four-digit numerical representations of major businesses and industries. SIC codes are assigned based on common characteristics shared in the products, services, production and delivery system of a business. What Is a SIC Code?
Understanding the Context
Standard Industrial Classification (SIC) codes are four-digit numerical codes created by the U.S. government to classify business industries. You can enter your NAICS code into the NAICS to SIC Crosswalk tool to find the corresponding SIC Codes. Where there are more than one corresponding code, simply pick the one that best describes your business activities.
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Key Insights
Standard Industrial Classification (SIC) codes are four-digit numerical codes assigned by the U.S. government that categorize industries based on their business activities, allowing for uniform classification and analysis of economic data across various industries and government agencies. SIC is an acronym for the Standard Industrial Classification system created in 1937 by the United States. SIC Codes represent different industries. They are commonly used for statistical analyses of businesses in the United States and other countries that have adopted the classification system.
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The Standard Industrial Classification Codes that appear in a company's disseminated EDGAR filings indicate the company's type of business. These codes are also used in the Division of Corporation Finance as a basis for assigning review responsibility for the company's filings. The SIC code is a four-digit classifying system that begins with the general characteristics of a business and then narrows down to the specifics. The first two digits of the code show the primary industry group of a company. The Standard Industrial Classification (SIC) code system was born in the 1930s and used for several decades.