NAICS Codes – Demographics – New Business Survival Rate

MP910216395

Dear M & M:

Can a business have more than one NAISC code?

–Beverly

Dear Beverly:

In the process of collecting, tabulating, presenting, and analyzing statistical data, the U.S. Census Bureau assigns and maintains only one NAICS code for each establishment based on its primary activity (generally the activity that generates the most revenue for the establishment). Since other agencies and organizations have adopted NAICS for use in programs that are not statistical (e.g., regulatory activities and procurement), it is possible that they allow for more than one NAICS code per establishment. For instance, the Central Contractors Registration (CCR), where businesses register to become federal contractors, will accept up to 5 or 10 classification codes per establishment. You will need to contact these other agencies to find out what their policies are, and what NAICS codes are appropriate for your business relative to their programs. For access to a list of Federal government agencies, visit: www.usa.gov/Agencies/Federal/All_Agencies/index.shtm – SBA

-M&M

 

Dear M & M:

Where can I go to find out basic population and other demographics about a particular city in the US?

– Jack

Dear Jack:

The US Census Bureau has an easy to navigate web site called QuickFacts that you can find out population and other facts based on the latest census numbers.  http://quickfacts.census.gov/qfd/index.html . Summary profiles for geographic areas have been updated with the most recent information from frequently requested statistics from various Census Bureau programs including the 2010 Census, 2010 American Community Survey and 2007 Survey of Business Owners. These easy to access and easy to use tables are now available for the nation, state and counties and have expanded from places with populations of 25,000 or more to places with 5,000 or more. Tables also provide links to more detailed data sets. – US Census Bureau

-M&M

 

Dear M & M:

What is the survival rate for new businesses?

– Jon

Dear Jon: 

According to the SBA About half of all new establishments survive five years or more and about one-third survives 10 years or more. As one would expect the probability of survival increases with a firm’s age. Survival rates have changed little over time the last 10 years.

 -M&M

 

To ask your questions: Call the Small Business Development Center(SBDC) at Cochise College (520)-515-5478 or email schmittm@cochise.edu or contact the Sierra Vista Economic Development Foundation(EDF) at 520-458-6948 or email  hollism@svedf.org

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