Standard Industrial Classification (SIC Code)

The Standard Industrial Classification (SIC) is a system used by the United States government to classify businesses for statistical purposes. The SIC code is a four-digit number that identifies the industry in which a company operates. The SIC code is used by the government to collect data on businesses and to track economic activity.

The SIC code was developed in 1937 by the United States Department of Commerce. The SIC code was originally used by the government to collect data on manufacturing businesses. In 1967, the SIC code was expanded to include data on non-manufacturing businesses.

The SIC code is used by the government to collect data on businesses through the Census of Business. The Census of Business is a survey that is conducted every five years. The Census of Business collects data on the number of businesses, the number of employees, and the amount of revenue generated by businesses in each industry.

The SIC code is also used by the government to track economic activity. The government uses the SIC code to track the growth of industries and to identify industries that are struggling. The SIC code is also used by the government to develop economic policies.

The SIC code is a valuable tool for businesses. The SIC code can be used by businesses to identify their competitors and to track industry trends. The SIC code can also be used by businesses to research potential markets and to develop marketing strategies.

The SIC code is a constantly evolving system. The SIC code is updated every five years to reflect changes in the economy. The SIC code is also updated to reflect changes in the way that businesses operate.

The SIC code is a valuable tool for businesses, the government, and the public. The SIC code provides valuable information about businesses and the economy. The SIC code is a tool that can be used to improve the economy and to create jobs.