Overall, the industries in which WOBs are less likely to win contracts account for about 85 percent of contracts and of dollars obligated in Fiscal Years 2013-2014 (which is the period in which the data originated).
As a result, SBA has changed its rules with both a substantial increase (from 330 to 445) in the number of eligible NAICS codes, and a pronounced shift from assignments which heavily favored the EDWOSBs over the WOSBs to the reverse.
This six-digit hierarchical structure allows greater coding flexibility than the four-digit structure of the SIC.
The Standard Industrial Classification ("SIC Codes") and North American Industry Classification System ("NAICS Codes") are universal numbering methods that help identify the industry affiliation of a company.
The first two digits describe the nature of this activity in very general terms (i.e. Remaining digits break down these categories into specific products and "sub-industries." If more than one SIC Code is assigned to a company, the first one listed is the primary line of business.
The remaining codes, if any, comprise at least 10 percent of the firm's annual revenue. NAICS differs from SIC in that it focuses on business processes rather than on end products.
March 7, 2016 APTAC Staff article Effective Wednesday, March 3, SBA made major changes to the Women’s contracting program.
Pursuant to the National Defense Authorization Act of 2015, a study was conducted by the Office of the Chief Economist (OCE) U. Department of Commerce, which analyzed data to help SBA determine those NAICS codes in which WOSBs are underrepresented and substantially underrepresented in Federal contracting.
Both codes are provided in the Business Information Report for your convenience. They've proven to be a useful tool for professionals looking to segment domestic markets, analyze customer relationships, and conduct general business research.
SIC Codes Standard Industrial Classification codes were developed by the Federal Government in conjunction with the U. SIC Codes divide all major economic activity into ten major divisions.