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Basic Market Research Tools

Doing proper market research is fundamental to a great business plan. Without it you really don't know the key factors that can make your business succeed or fail. Local librarians can help you access the online and print tools you need.
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  • Codes You Need to Know
    Sources for Obtaining NAICS and SIC Codes

    Different sectors of industry are classified according to NAICS (North American Industry Classification System) codes.

    NAICS codes are hierarchical

    The codes are 6 digits long, but you can use just part of the code in order to search a broader group of industries. For instance, "Confectionery Manufacturing from Purchased Chocolate" has the code 311330, but the shorter 3113 works for all of the different industries that fall under "Sugar and Confectionery Product Manufacturing". If you're searching using an NAICS code and you're not finding much, try lopping a digit or two off of the end of the full 6-digit code and you may have better luck.

    NAICS codes are used everywhere

    Just like at McDonald's, sometimes it's easier to order by number instead of by name. You can search in most business databases by searching for your NAICS code and choosing "IC NAICS Code or Description" from the drop-down menus on the main search screen.

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