How Are Naics Codes Assigned

How Are Naics Codes Assigned-26
March 7, 2016 APTAC Staff article Effective Wednesday, March 3, SBA made major changes to the Women’s contracting program.Pursuant to the National Defense Authorization Act of 2015, a study was conducted by the Office of the Chief Economist (OCE) U. Department of Commerce, which analyzed data to help SBA determine those NAICS codes in which WOSBs are underrepresented and substantially underrepresented in Federal contracting.

In 109 industries (36 percent of the total), WOBs have statistically significant lower odds of winning contracts, covering 62 percent of contracts and nearly two-thirds of dollars obligated under contracts awarded in FY 2013 or 2014.

In an additional 145 (48 percent) of the 304 industries included in the study, the odds of WOBs winning contracts were lower than those of otherwise similar non-WOBs, but in these cases there is not a statistically significant difference between the odds of winning contracts for the two groups.

The United States, Canada and Mexico share the first five digits within the NAICS structure.

The sixth digit is designed for country specific classifications and may differ from one nation to the next.

All EDWOSB-qualified companies automatically also qualify as WOSB, so they are also likely to benefit from the change. 11340-11343 New tables of the WOSB and EDWOSB NAICS codes can be found at: https://gov/content/women-owned-small-business-program .

Review the new NAICS lists below: NAICS eligible for Woman-owned Small Business set-asides NAICS Eligible for Economicall Disadvantaged Woman-owned small business set-asides Office of the Chief Economist WOSB Study Details of the Women-Owned Small Business Program can be found at FAR 19.15 Woman-Owned Small Business Program. Funded through Cooperative Agreements between the U. Department of Defense and state and local governments/institutions, PTACs provide free and low-cost assistance in virtually all areas of government contracting.

Overall, the industries in which WOBs are less likely to win contracts account for about 85 percent of contracts and of dollars obligated in Fiscal Years 2013-2014 (which is the period in which the data originated).

As a result, SBA has changed its rules with both a substantial increase (from 330 to 445) in the number of eligible NAICS codes, and a pronounced shift from assignments which heavily favored the EDWOSBs over the WOSBs to the reverse.

Both codes are provided in the Business Information Report for your convenience. They've proven to be a useful tool for professionals looking to segment domestic markets, analyze customer relationships, and conduct general business research.

SIC Codes Standard Industrial Classification codes were developed by the Federal Government in conjunction with the U. SIC Codes divide all major economic activity into ten major divisions.

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