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What is the advantage of the NAICS code vs. the SIC code?

April 26, 2017advantage code finder NAICS SIC vs

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What is the advantage of the NAICS code vs. the SIC code?

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There are a number of advantages to the new system. It is the first common system that includes all industries not only in the US, but in Canada and Mexico as well. With the advent of NAFTA a lot of firms are open to expanding their promotions and sales into those countries. NAICS will help make those territories more accessible. The NAICS identifies almost 100% more business sectors than did the SIC and the industries recognized have been increased by over 30%. New service industries have been added and the breakdown system that describes business has been expanded from four digits to six.