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standard industrial classification system (SIC)

standard industrial classification system (SIC) definition - business

standard industrial classification system (SIC)

A classification of businesses and business units by type of economic activity. The system uses single-digit to four-digit classifications, depending on how narrowly the business unit is defined. There are 11 single-digit groupings and more than 1,000 four-digit groupings.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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