A comprehensive overview of NAICS codes, explaining their purpose as a standardized classification system for North American businesses, primarily used for statistical data collection. They detail the hierarchical six-digit structure of these codes and highlight their critical impact on a business's ability to secure funding, obtain insurance, qualify for government contracts, and comply with IRS reporting. Several sources categorize industries into low-risk and high-risk classifications, providing specific examples and strategies for businesses in high-risk sectors to improve their fundability, such as building strong credit or seeking alternative financing. The articles also mention the older SIC code system and offer guidance on selecting the appropriate NAICS code and the process for correcting misclassified codes.
#fundingsolutions #smallbusinessfunding #startupfunding #startup #funding #lendexsolutions #actionable solutions
Popular Podcasts
Stuff You Should Know
If you've ever wanted to know about champagne, satanism, the Stonewall Uprising, chaos theory, LSD, El Nino, true crime and Rosa Parks, then look no further. Josh and Chuck have you covered.
The Joe Rogan Experience
The official podcast of comedian Joe Rogan.
Dateline NBC
Current and classic episodes, featuring compelling true-crime mysteries, powerful documentaries and in-depth investigations. Special Summer Offer: Exclusively on Apple Podcasts, try our Dateline Premium subscription completely free for one month! With Dateline Premium, you get every episode ad-free plus exclusive bonus content.