https://www.123articleonline.com/rss/author/368901/claudia-tiedemannArticles written by Claudia Tiedemann from 123ArticleOnline.comen-usCopyright (c) 123ArticleOnline.com All rights reserved. https://www.123articleonline.com/articles/1335755/the-naics-code-and-its-significance NAICS is a framework used for classifying business activities. This system classifies the economy into 20 key sub-sectors, making it simpler for firms and governments to track changes over time. A NAICS code is required when you start a new business or update an existing one.