How Are Naics Codes Assigned

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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.

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Comments How Are Naics Codes Assigned

  • NAIC COMPANY CODES ARE ONLY ASSIGNED TO RISK-BEARING ENTITIES.
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    NAIC COMPANY CODES ARE ONLY ASSIGNED TO RISK-BEARING ENTITIES. Agencies are not assigned NAIC company codes. YOUR APPLICATION WILL NOT BE PROCESSED UNLESS YOU HAVE BEEN ISSUED A CERTIFICATE OF AUTHORITY BY THE STATE INSURANCE DEPARTMENT IN WHICH YOU ARE DOMICILED AND REGULATED.…

  • DnB - About SIC & NAICS
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    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 Codes…

  • North American Industry Classification System NAICS at BLS U. S.
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    Introducing NAICS. NAICS uses a production-oriented conceptual framework to group establishments into industries based on the activity in which they are primarily engaged. Establishments using similar raw material inputs, similar capital equipment, and similar labor are classified in the same industry.…

  • NAICS A Guide for Top and Codes - treasury.gov
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    It identifies the NAICS code that describes the principal purpose of that procurement. A business may have numerous capabilities, and the NAICS code for a given procurement opportunity may not be the same as the primary NAICS code of the business. That will not keep a business from bidding or making an offer, as long as the business meets the size…

  • How to Request a NAICS Code Review - ca.gov
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    A brief statement asking for a review of your business activities and to change the assigned NAICS code or issue a newly assigned NAICS code. A detailed description of the business activity and services or products provided. A contact name and their phone number in the event we have additional questions.…

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  • New NAICS for WOSB and EDWOSB set-asides! - APTAC
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    Under the new rule, 365 NAICS codes are eligible for WOSB set-asides – 82% of the total – making many more businesses in far more industries potential beneficiaries of WOSB set-asides. It will now be much easier for contracting officers to satisfy “Rule of Two” competition requirements, and thus easier to decide to set-aside for women.…

  • NAICS Code Appeals One Size Does Not Fit All Government Contracts.
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    To keep order, the Small Business Administration SBA maintains a manual of industrial codes – called North American Industry Classification System NAICS codes – that are assigned to particular classes of manufacturing and service industries. Each NAICS code is associated with a particular size standard that changes over time.…