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FINDING YOUR DREAM COMPANY....

FINDING YOUR DREAM COMPANY. ...WHILE USING INDUSTRY CODES & LIBRARY DATABASES. WHAT IS SIC CODE ?. Have a new job, need to be familiar with SIC codes, don't know what they are?

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FINDING YOUR DREAM COMPANY....

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  1. FINDING YOUR DREAM COMPANY.... ...WHILE USING INDUSTRY CODES & LIBRARY DATABASES

  2. WHAT IS SIC CODE ? Have a new job, need to be familiar with SIC codes, don't know what they are? • “Standard Industrial Classification codes - describe the type of job of each employee. Used mainly by worker's comp. insurance companies and unemployment agencies.” • “They are industry codes used to classify business types. The US government uses them on tax returns, and census material.” • “These codes are used by insurance companies and finance companies to differentiate the type of business you are in.” • “Some codes are similar but depending on what they are and "how" they operate separates the industry codes.” • “Every "type" business IE: manufacturers, professional, retail, wholesalers etc have a SIC code .” • “These codes are used by insurance and finance companies to differentiate the type of business you are in.” From YAHOO ANSWERS.COM

  3. SIC – Standard Industrial Classification • The Standard Industrial Classification(abbreviated SIC) is a United States government system for classifying industries by a four-digit code. • Established in 1937, to facilitate communication within and between businesses and industries. • It is been replaced by the six-digitNorth American Industry Classification System (NAICS), which was released in 1997; • However certain government departments and agencies, such as the U.S. Securities and Exchange Commission (SEC), still use the SIC codes.

  4. NAICS - North American Industry Classification System • NAICS (pronounced “nakes”) is used by business and government to classify business establishments according to type of economic activity (process of production) in Canada, Mexico and the United States. • It has largely replaced the older Standard Industrial Classification (SIC) system; • With the first version, released in 1997, NAICS offered enhanced coverage of the service sector (such as Interior Design)relative to SIC • The 2002 revision accommodated significant changes in the Information Sector. • The upcoming revision in 2012 will address classification challenges stemming from factoryless production.

  5. FREE CODE SEARCH FROM NAICS ASSOCIATION Service that cost about $100 per 1000 companies

  6. Interior Design NAICS code:  541410 • This industry comprises establishments primarily engaged in planning, designing, and administering projects in interior spaces to meet the physical and aesthetic needs of people using them, taking into consideration building codes, health and safety regulations, traffic patterns and floor planning, mechanical and electrical needs, and interior fittings and furniture. Interior designers and interior design consultants work in areas, such as hospitality design, health care design, institutional design, commercial and corporate design, and residential design. This industry also includes interior decorating consultants engaged exclusively in providing aesthetic services associated with interior spaces. (7389 SIC Code)

  7.  Number of US Businesses - 541410 Interior design –     37,791 541214 Payroll services -       1,848 Source: 1997 Census

  8. Library databases • Reference USA • Mergent Online • Business & Company Resource Center • Lexis-Nexis Academic

  9. LOCATIONS ON GOOGLE MAPS

  10. WHY DO WE NEED TO KNOW THIS ? • To create a list of companies to contact (make your own list); • To know what this industry (job) is about (industry description); • To learn about available job market (# of business, their localization, annual income, number of employees etc.); • To become proficient in searching for company/business data (competitors).

  11. REVIEW • Two types of industry specific codes (SIC, NAICS) • Code search and description via NAICS Association website • Creating a comprehensive company lists using library database: Reference USA • Finding (and downloading) more data about companies/industries with Lexis-Nexis Academic, Mergent Online andBusiness & Company Resource Center

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