NAICS & SIC

These are two U.S. government classifications you should spend some time researching to select your company's specific classification(s). 

The North American Industry Classification System (NAICS) has 20 Sections.  The importance of this code applies to the type of insurance and insurance costs an underwriter will use to rate your company.

The Standard Industrial Classification (SIC) has a total of 9 Sections.  This classification is used to primarily to set valuations on your company. 

In some cases, a company may have more than one business activity and subsequently, you may need to select up to 3 different NAICS or SIC codes to best describe your activity.