sic 7371

Guri Bee

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20-10-2024

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SIC 7371: Understanding the Business of "Computer Programming Services"

What is SIC 7371?

SIC 7371, or "Computer Programming Services," is a classification within the Standard Industrial Classification (SIC) system, a numerical system used in the United States to categorize businesses by industry. This code specifically designates companies that provide software development and programming services to other businesses.

What kind of businesses fall under SIC 7371?

Companies under SIC 7371 typically offer a wide range of services, including:

• Software development: This can involve creating custom software applications for specific business needs, building mobile apps, and developing websites.
• Software maintenance: This involves ongoing support, bug fixing, and updates for existing software applications.
• System analysis and design: These companies analyze business processes and design software solutions that improve efficiency and productivity.
• Database programming: This involves creating and maintaining databases for storing and managing data.
• Web development: This includes designing and developing websites, e-commerce platforms, and other web applications.

What are some examples of businesses classified under SIC 7371?

• Software development firms: These companies specialize in developing custom software solutions for clients.
• Web design agencies: These agencies create and maintain websites for businesses and individuals.
• IT consulting firms: These firms offer a range of services, including software development, system integration, and IT infrastructure management.
• Freelance programmers: These individuals offer programming services to businesses on a contract basis.

Why is understanding SIC 7371 important?

Understanding SIC 7371 can be useful for several reasons:

• Market research: Businesses in this sector can use SIC 7371 to identify competitors and target potential customers.
• Industry analysis: Investors and analysts can use this classification to understand the trends and growth potential of the software development industry.
• Government regulations: SIC 7371 can be used to identify businesses that are subject to specific regulations and reporting requirements.

The Evolution of SIC 7371

While the SIC system was widely used in the past, it's now largely replaced by the North American Industry Classification System (NAICS). The NAICS code for Computer Programming Services is 511210. This newer system offers a more detailed and updated classification system that reflects the modern evolution of the technology industry.

Where to find more information about SIC 7371 and the software development industry?

• The US Census Bureau: The Census Bureau website provides information about the SIC system and the NAICS system.
• Industry associations: Organizations like the Software & Information Industry Association (SIIA) provide insights into the software development industry.
• Market research reports: There are several market research firms that publish reports on the software development industry.

Conclusion

SIC 7371 remains a valuable identifier for understanding the core activities of businesses involved in developing and maintaining software solutions. This code offers a starting point for researching the market, analyzing industry trends, and identifying opportunities within the ever-evolving world of technology.