3952 Lead pencils & art materials 2082 Malt liquors You will receive mail with link to set new password. 3799 Transportation equipment, RVs, wheelbarrows, etc. In simple terms, banks will consider businesses and or business owners a high-risk if they're concerned about their return on investment. 8331 Job training & vocational rehabilitation 3441 Fabricated structural metal By 3021 Rubber & plastic footwear 3567 Industrial furnaces & ovens 6011 Federal reserve banks 3465 Automotive stamping 2732 Book printing 3496 Wire cloth, chain & fasteners 2824 Synthetic organic fibers 7218 Industrial launderers 0175 Deciduous tree fruit orchards 2211 Cotton weaving mills 3769 Space vehicle equipment 3594 Fluid power pumps & motors 0831 Forest nurseries & forest products Cereal is a manufactured good which falls under the major industrial group 20 for Food and Kindred Products. You dont want to get down the funding route and have a lender discover your business is different than what they thought it was. 2672 Coated and laminated paper, including sandpaper 5154 Livestock Metal Products, Such As Combs, Hair Curlers, Etc. 2075 Soybean oil mills Gaming or Gambling Activities. 4011 Railroads 2258 Lace and net knitting mills Services, but we sell software he likes software software is low risk. 5013 Automotive equipment Privacy Policy 2296 Tire cord & fabrics Explore census data with visualizations and view tutorials. 0742 Animal veterinary services 1611 Road construction, except elevated highways Within that major group, 9 other food related groups exist including Meat Packing (201), Dairy Products (202), and Grain Mill Products (204). 5661 Shoe stores Start an Online Course If you have expertise in something that people are willing to pay for (such as blogging), you might want to create a course on the subject. It seems apparent that the code that corresponds to my situation - a single member LLC that owns and rents out residential real estate using a property manager - is 5311. 5181 Beer & ale 3263 Whiteware table & kitchen ware More Info. 4899 Miscellaneous communication services 4789 Cargo loading, passenger trains, horses, etc. 2673 Plastic bags 4513 Air courier services Here are some of the popular uses: In the SIC Code system, miscellaneous 3rd or 4th digit codes are usually designated with the term 'Not Elsewhere Classified'. Public administration (e.g., city, county, state, and federal governmental agencies). 2098 Macaroni & noodles As global economies and health recover, pent-up consumer demand is anticipated to drive industry recovery toward the end of the period. 3483 Ammunition, except for small arms 4119 Local passenger transport 8412 Museums & art galleries Segment markets for professional use or to identify key competitors in both public and private markets. We also use third-party cookies that help us analyze and understand how you use this website. 0134 Irish potato farming Want to see more industries with least risky business environments? 2391 Curtains & draperies Analytics cookies allow us to better understand how users interact with our website, which can help us to determine how we can improve our services to our users. 2652 Setup paperboard boxes 5571 Motorcycle dealers 2834 Pharmaceutical preparations 3565 Packaging machinery 82XX Educational Services 1475 Phosphate rock This lack of standardization would leave one agencys work and analysis fairly useless to other parties that may be interested in or benefit from the same information. SIC & NAICS Codes What Are They & What Do They Mean? 5143 Dairy products 3822 Automatic environmental controls Are you looking for low risk SIC codes for businesses? Related: The Risk-Averse Entrepreneur's Guide to Startup Success. 3569 Filters, firefighting equipment & lubricants 5600 - ADMINISTRATIVE AND SUPPORT AND WASTE MANAGEMENT AND REMEDIATION SERVICES. 1781 Water well drilling 9223 Correctional institutions 48XX Communication 5521 Used car dealers 5075 Heating and A/C equipment/supplies 3317 Steel pipe & tubes 7537 Auto transmission repair Find Accurate Mailing Information, Phone Number, NAICS and SIC Codes, Latitude/Longitude & more! 6231 Security & commodity exchanges 2074 Cottonseed oil mills The Staff of Entrepreneur Media, Inc. 3564 Blowers & fans 93XX Finance, Taxation & Monetary Employers are not required to keep OSHA injury and illness records for any establishment classified in the following North American Industry Classification System (NAICS), unless they are asked in writing to do so by OSHA, the Bureau of Labor Statistics (BLS), or a state agency operating under the authority of OSHA or the BLS. An establishment may only have one (1) Primary SIC code, which is determined by the industry classification that generates the highest revenue or value of shipments. Get answers to frequently asked questions. 4725 Tour operators 1741 Masonry & stone setting 7353 Heavy construction equipment rental 67XX Holding & Investment Offices We recommend keeping these cookies enabled. This could alter government contracts and programs for which you qualify. 2821 Plastics materials 2542 Metal partitions & display cases 7997 Membership sports & recreation clubs A lot of standard merchant accounts have no contract. 7629 Electrical repair shops 3199 Saddles, leather jackets & straps When used correctly, companies can focus their marketing efforts on the industries that generate the highest return on investment. 4813 Telephone services 3824 Fluid meters 4941 Water supply 8732 Commercial economics & educational research 2091 Can/cure fish & seafoods Download a free sample report today to discover the breadth and depth of information available at your fingertips! 2329 Other mens clothing 7622 Radio & TV repair shops 09XX Fishing, Hunting, and Trapping 3356 Nonferrous metals rolling & drawing 10XX Metal Mining 5193 Flowers/florists supplies Our surveys provide periodic and comprehensive statistics about the nation. 5551 Boat dealers 7384 Photofinishing labs 2015 Slaughter/process poultry 5012 Automobiles, trucks, RVs & motorcycles 7534 Tire retreading & repair 7032 Sporting & recreational camps 2411 Logging 79XX Amusement & Recreation Services 6062 Non-federal credit unions replaced the older Standard Industrial Classi cation (SIC) system. 5411 Grocery stores And according to SmallBizTrends, 69 percent of U.S. entrepreneurs start their businesses at home. 3589 Cleaning, sewage & food cooking & warming equipment 8711 Engineering services At CSA Group, you'll contribute to the safety of many industries, from consumer products to nuclear plants and beyond. The lowest-risk business ideas are the ones you can start from your home. *Travel industry. These Cookies are used to allow for Advertisements that Cater to your interests. 8721 Accounting, auditing & bookkeeping 3677 Transformers & electronic coils An investor may bear a risk of loss of some or all of their capital invested. Hi Mike, a good first step to establish and build business credit would be to open an account, such as a business credit card, for the company. Companies seek credit repair is because they either need a loan or they are seeking special financing. 3151 Gloves & mittens 6211 Security brokers & flotation companies Comment * document.getElementById("comment").setAttribute( "id", "aefc24c37170f9ba0439acd90c67f7f8" );document.getElementById("h09971f2bf").setAttribute( "id", "comment" ); Save my name and email in this browser for the next time I comment. Download Our Free Data & Marketing Industry Whitepapers. 5049 Professional & engineering equipment Spread the loveParimatch App Download Apk For Android & Ios 2023 We Indians are acquainted with them, they are super fast and trustworthy. 7312 Outdoor advertising services Industry Sector: 2043 Cereal Breakfast Foods. When it comes to opening a merchant account, business owners must understand the risk category under which their business comes. First and foremost, trade and economic expansion made it important to extend data collection and analysis into Mexico and Canada. . Credit repair has never been more profitable today. 0752 Animal services, except veterinary Solar power companies have gone through significant growth, propelled by improvements in the technologies used for electricity generation and government incentives, like the renewable portfolio standard (RPS) targets. 5712 Furniture stores *Adult entertainment. 7631 Watch, clock & jewelry repair 3821 Lab apparatus & furniture 2046 Wet corn milling 0172 Grape vineyards High Risk NAICS Code 3991 Brooms & brushes 3229 Pressed & blown glassware It was developed to allow for a high level of comparability in business statistics among the three North American countries. 4121 Taxicabs 3634 Electric housewares & fans 2297 Nonwoven fabrics 2331 Womens blouses & shirts 9211 Courts Local, Magistrate, Justice, State & Federal Court 5734 Computer & software stores If so, they are less likely to get a SIC code. By Take, for example, the common breakfast staple, cereal. Here are a few of the codes to stay away from relating to the following industries: *Real estate investing or anything else regarding investing of any type. Whether you are building a list or looking up individual companies this tool gives you unlimited access to the entire National Database of Companies for unlimited viewing and research. So, no matter if you are in a high-risk industry, you should still use your correct NAICS code? 9631 Government administration of utilities 3827 Optical instruments & lenses 3826 Lab analysis instruments Except Grinding, Washing, Separating, etc. She is a former United States Army soldier who was convicted by court-martial in July 2013 of violations of the Espionage Act and other offenses, after disclosing to WikiLeaks nearly 750,000 classified, or unclassified but sensitive, military and diplomatic documents. 2241 Lace, yarn & elastic weaving mills 8249 Vocational schools As a result, funding allocated toward biobanks has expanded over the five years to 2022. 2869 Industrial organic chemicals 2448 Wooden pallets & skids 7219 Other laundry & garment services 2342 Bras & girdles These cookies will be stored in your browser only with your consent. NAICS Code FAQ 3411 Metal cans How would you like to do that while working from home? 3579 Letter & paper handlers & word processors 2676 Paper towels, diapers and sanitary napkins Patel is the co-founder of Web Profits and Mailshake. 6153 Short-term business credit 1731 Electrical work 1423 Crushed, broken granite 2252 Socks and leg warmers This type of business offers a lot of flexibility since you can work on your own time; you can even work part-time. Seven industries in the 2017 NAICS structure have been updated for 2022. So what is an SIC code? Aside from adding structure and clarity to an otherwise vast and multifaceted economy, SIC codes can function in the following ways: You may have noticed that the invention and use of SIC codes was focused on use in the United States. 5093 Scrap & waste materials The Wind Power industry generates revenue from owning and operating wind farms and selling the energy they produce to downstream customers. By knowing the customers' needs, you'll be able to provide the service they desire. If you find a specific agency or government office is using a SIC Code that doesnt apply to your business, it is best to contact that specific agency/office and request an update. 0761 Farm labor contractors 2895 Carbon black 0781 Landscape planning and consulting 1231 Anthracite mining 4311 United States Postal Service One of the best audiences to target today is seniors. 1442 Construction sand & gravel 9431 Public health programs administration There are, however, a few things you can do to make the risk a little, well, less risky. 2879 Pesticides & agricultural chemicals To sign up for updates please enter your email address. 3352 - Electronic Parts and Components Industry. 3519 Internal combustion engines 42XX Trucking & Warehousing Any industry that isnt classified as high risk or part of the auto-ban list, is going to be low risk by default. 7374 Data processing services Research from AARP finds that 90 percent of seniors want to live independently by staying in their own homes as they age. 22XX Textile Mill Products If you are in fact a reinsurance carrier, you should be classified under a different code, for which the size standard is $38.5M. If it is associated with corporate filing in your state, youll need to contact that agency. Tap into a database of 15 million verified business records arranged by specific industries. 3599 Amusement park rides, flexible metal hose, etc. Posted 11 years ago. Identifies the scope and nature of the nation's state and local government sector including public finance and public employment and classifications. 1499 Other Nonmetallic minerals, except fuels Additional information on NAICS is available at: Private firms contracting to provide services to government, Government-owned/contractor-operated (GOCO) plants. With this model, as a sales representative, you have the potential to earn as much money as you want, depending on how much effort you put in. of Minerals in SIC 1479, Grinding, Washing, Separating, etc. 96XX Administration of Economic Programs 1521 General house contractors 9611 General economic programs, administration 5611 Mens & boys clothing stores 3993 Signs & advertising displays 5431 Fruit & vegetable markets 0213 Hogs A senior home care business would be a perfect way to serve this audience. 8748 Business consulting services Now, you just need a product. 2399 Badges, pet toys, flags, hammocks, etc. In a post for The Balance, business writer Susan Ward wrote, "When you're starting a business, you need to become an expert on your industry, products and services if you're not already. From the U. S. Small Business Administration, this table lists small business size standards matched to industries described in the North American Industry Classification System (NAICS), as modified by the Office of Management and Budget effective January 1, 2012. 5261 Lawn & garden stores 2522 Metal office furniture 3563 Air & gas compressors 7373 Computer integration & systems design 5984 Bottle gas dealers This presents a huge business opportunity for you. 3942 Dolls & stuffed toys 8621 Professional organizations 3171 Womens handbags It is now as common as SIC code. 3633 Household laundry equipment 7383 News syndicates 3596 Scales & balances, except laboratory 1761 Roofing, siding & sheet metal work Lead Generation 3577 Computer printers, plotters & scanners 3728 Aircraft equipment, wings & landing gear 4952 Sewage Systems NAICS Code Appends Biobanks have become an increasingly vital tool in medical research by producing studies and innovation that have improved public health outcomes. 2833 Medicinal chemicals & botanicals 5051 Metal products 7291 Tax return & Income Tax preparers 2251 Female stockings 4424 Domestic freight sea transport 8399 Other social services (Each industry has an assigned SIC code) Each industry needs to have established necessity). 212114 - Surface Coal Mining; 212115 - Underground Coal Mining 2511 Wooden household furniture 2741 Miscellaneous publishing 43XX U.S. SIC stands for Standard Industrial Classification. 2396 Auto trim, linings and findings 2874 Phosphate fertilizers 2843 Oils, greases & finishing agents 7319 Other advertising SIC code 7311 is used by Advertising Agencies. She is the author or coauthor of five books, including Finance Your Own Business: Get on the Financing Fast Track.