SIC (Standard Industrial Classification )

The Standard Industrial Classification (SIC) is a system used to classify industries by a four-digit code. It was developed by the U.S. government in the 1930s, and it reflects the primary activity of a business or organization in order to categorize and track data for analysis and reporting purposes. This unified classification system is used by different sectors of government and organizations, such as procurement departments, to accurately and efficiently collect economic information related to businesses operating in the United States.