Source · Select Committees · Business and Trade Committee
Recommendation 60
60
Current Standard Industrial Classification codes inadequately represent diverse contemporary business activity.
Conclusion
The Government will not be able to deliver change for businesses unless it is able to accurately track and monitor business activity. Current Standard Industrial Classification (SIC) codes fail to identify and define sub-sectors of economic activity. Under these classifications, hair and beauty are represented as one industry and identified as the same type of service as launderettes or funeral homes. Such distortions fail to adequately represent the reality of contemporary business activity. (Conclusion, Paragraph 210)