SIC Classification
Standard Industrial Classification (SIC), numerical classification system assigned by U.S. government for identification of the primary business establishment. SIC system helps in collection, presentation and analysis of data; and also to present collected statistical data with uniformity and comparability.
Importance of SIC:
• Provides more specific and comprehensive business listing
• Better segmenting of markets helps in market campaign and customer research
• Tax classification
• Collection and analysis of industry data quickly and effectively
SIC Classification system:
| Classification Level | Digit | Example |
|---|---|---|
| Division | 20-39 - Manufacturing | |
| Major Group | Two | 25 – Furniture and Fixture |
| Industry Group | Three | 252 – Office Furniture |
| Industry | Four | 2521 – Wood Office Furniture |
Example: Microsoft
| Classification Level | Digit | Example |
|---|---|---|
| Division | 70-89 | Services |
| Major Group | 73 | Business Services |
| Industry Group | 737 | Computer Programming, Data Processing, And Other Computer Related Services |
| Industry | 7372 | Prepackaged Software |
Why Sanvill
• Techno-savvy: Up-to-mark established technology gives advantage to Sanvill to provide accurate work within lesser time frame
• Understanding: Well experienced team of professionals of various sectors, provide deepening knowledge of industries for better classification.
