Anyone in the business of company data knows that SIC codes (standard industrial classifications), while historically useful, are a bit, well, dated. Their inflexibility means that it’s impossible to track companies beyond traditional sectors.
Simply put, they’re too broad. Take SaaS companies, for example. SIC codes lump SaaS, app development, and server software all under a single umbrella term: Software Development (62012). For most of us, that’s not particularly helpful.
That’s why we launched our own company classification system over a decade ago. For years, our subscribers have tracked the evolving economy using what we called ‘sectors’—and to great success. But naturally, our product team is always working hard behind the scenes to make improvements.
And so a new industry classification system was created and launched to cover the entire UK economy. From deep tech pioneers to the shops and cafes on your local high street.
Take this renewables company, for example. It’s gone from this: