NAICS CODE FOR REAL ESTATE MANAGEMENT REGISTRATION

To see the definition of annual receipts and average employees, you can view the common terms section on the SBA’s website here. This is important because your business size impacts whether you qualify for small business set-asides, subcontracting, and various government contracting programs. Small Business Administration (SBA) uses your average annual receipts and number of employees, which vary depending on your NAICS code, as a basis for determining the size status of your business. View the NAICS Code Government Spending Report Business Size Determination If there are cyclical spending trends associated with your category of products or services.Which companies are currently selling your category of products or services to the government.Which agencies are spending the most on your category of products or services.How much the government spends on your category of products or services.Researching NAICS codes can help you determine:

This is because the federal government utilizes the NAICS code system to classify government contract opportunities and awards. Whether your company is just getting started in the government market, evaluating the addition of new offerings, or looking to reassess the market, NAICS codes provide an excellent starting point for government market research.

NAICS CODE FOR REAL ESTATE MANAGEMENT REGISTRATION

System for Award Management Registration.

With such a wide breadth of uses, it can be difficult to get far without understanding and knowing your NAICS codes. NAICS code applications span from registering to do business with a government agency to determining your business size and conducting market research. The full, six-digit primary NAICS code plays a pivotal role in federal government contracting. Understanding NAICS Codes in Government Contracting To help visualize how this works, here’s an example of a NAICS code broken down:

The six-digit code provides country-specific detail for the national industry.

The five-digit code denotes the specific NAICS industry.

The four-digit code includes the industry group.

The three-digit code specifies the economic subsector.

The two-digit code indicates the economic sector.

The official NAICS code structure consists of a two-through-six-digit hierarchy of classifications with five levels of detail: Since the creation of NAICS, state, local, and federal agencies have adopted the system for a wide range of purposes. As a result, federal statistical agencies can more easily analyze and compare economic activity. NAICS codes create common definitions for specific industries. Their goal was to replace the Standard Industry Classification System with a new system for North America. In 1997, the United States, Mexico, and Canada developed the North American Industry Classification System (NAICS).

Naics code for real estate management