Business

profileSummerlady143

Buisness- just need a response to question-paragraph

Part 1 of the feasibility study requires you to identify the NAICS code of your proposed business concept. As mentioned in this week’s learning unit, the North American Industry Classification System (NAICS) provides not only a system to classify your business but also provides valuable industry information and data, which is an invaluable tool to a startup or existing business. In this discussion thread, you will practice using the NAICS site and discuss your findings with your classmates as presented in Skill Module 7.2 (Katz & Green, p. 190).
What is your NAICS code?  See Katz, p.190.  Please go to the updated site:  
http://www.census.gov/cgi-bin/sssd/naics/naicsrch?chart=2012. In the text box that says “enter keyword” enter the name of the industry that best describes the industry in which your proposed business idea is located.  You should end up with a 6 digit code for the industry in which your business will be located.  If you are not sure of your industry, it may take some experimentation.  See examples in Skill module 7.2.  
Once you locate your NAICS code, go towww.census.gov and click on “economic census.”  Once you are in “economic census” enter your NAICS code and look for data related to your industry. 
Find and share at least three pieces of information about your industry that are available at this cite such as number of establishments, annual revenue, trends, etc.  Also refer to Table 7.1 on page 200 for additional information and ideas.
For your convenience, I am also attaching a table with the NAICS structure and numbers.
    • 10 years ago
    • 10
    Answer(0)
    Bids(0)