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As my career has progressed, Ive spent time at small and large companies, and I have sat through dozens of business meetings wondering what the heck the money people are talking about. They used acronyms as if they were a foreign language. Additional Article Information: =============================== 423 Words; formatted to 65 Characters per Line Distribution Date and Time: 2008-04-15 13:24:00 Written By: Melissa Mashtonio Copyright: 2008 Contact Email: mailto:[EMAIL PROTECTED] For more free-reprint articles by Melissa Mashtonio, please visit: http://www.thePhantomWriters.com/recent/author/melissa-mashtonio.html ============================================= Special Notice For Publishers and Webmasters: ============================================= If you use this article on your website or in your ezine, We Want To Know About It. Use the following URL to let us know where you have used this article, and we will include a link to your website on thePhantomWriters.com: http://thephantomwriters.com/notify.php?id=5939&p=load HTML Copy-and-Paste and TEXT Copy-and-Paste Versions Of Article Are Available at: http://thePhantomWriters.com/free_content/db/m/business-school-for-non-business-minds.shtml#get_code --------------------------------------------------------------------- Business School for Non-Business Minds: Got a NAICS Number? Copyright (c) 2008 Melissa Mashtonio Manta http://www.manta.com Im a journalist. I spent a lot of my career in the news business. As my career has progressed, Ive spent time at small and large companies, and I have sat through dozens of business meetings wondering what the heck the money people are talking about. They used acronyms as if they were a foreign language. Now I work for a company that publishes company information, and Im in a whole new world of acronyms. One of the biggest in this business is the NAICS, pronounced Nakes number. The North American Industry Classification System (NAICS) is a series of numbers assigned to business establishments by government agencies (or themselves) that identifies the primary business of the establishment. In 1997, NAICS was established to largely replace the older Standard Industrial Classification (SIC) system. The five- or six-digit "Nakes" replaced three-or four-digit "Siks" in order to do a better job of covering service and technology industries and to include Canada and Mexico in the classification systemthus the North America part. Both codes are still in use and both are widely used by market researchers, securities analysts and other systems used to classify companies. What NAICS Numbers Mean NAICS is a two- through six-digit hierarchical classification code system-- the longer the number, the more detailed the industry description. Each digit in the code is part of a series of progressively narrower categories, and the more digits in the code signify greater classification detail. The first two digits designate the economic sector, the third digit designates the sub sector, the fourth digit designates the industry group, the fifth digit designates the NAICS industry, and the sixth digit designates the national industry. A complete and valid NAICS code contains six digits. Examples of NAICS codes: 51 Information 513 Broadcasting and telecommunications 5133 Telecommunications 51332 Wireless telecommunications carriers (except satellite) 513322 Cell phones and cell phone service How Companies Get a NAICS Number There is no central government agency with the role of assigning, monitoring, or approving NAICS codes. Individual establishments are assigned NAICS codes as they do business with banks, vendors and credit lenders. The U.S. Census Bureau, for instance, assigns NAICS codes to collect, tabulate, analyze, and disseminate statistical data describing the economy of the United States. Generally, NAICS classification codes are derived from information that a business establishment has provided on administrative, survey or census reports. The fact is, as soon as you start to do business, a NAICS code will be necessary and either youll seek it out yourself or someone will assign you one --------------------------------------------------------------------- Melissa Mashtonio writes for Manta.com, the authority for finding 45 million free company profiles. The site (http://www.manta.com) covering large to small firms worldwide--and their related industries and products. Empowered with CRM tools, users compete smarter, accelerate sales prospecting and partnering, and identify revenue opportunities faster. 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