Learn what NAICS is and why it's important.
NAICS is an acronym for North American Industry Classification System. Like its name suggests, NAICS is a system of classification commonly used in accounting, government and legal systems. Like other forms of classification, e.g. ISO, NAICS has standardized a classification system for industry that enables easier establishment of economic activity.
Accordingly, most types of organizations and business will fall under at least one of the NAICS code designations and, based on its code, is a method of easily identifying how a business may be classified in certain national or international contexts.
Some examples of industry title and codes under the NAICS system are:
Agriculture, Forestry, Fishing and Hunting
- 21, Mining - 22, Utilities - 23, Construction - 31-33, Manufacturing - 42, Wholesale Trade
A complete list of NAICS codes can be found on the NAICS website.