NAICS number and SIC Code

[Brad McKay]

For NAICS number, it seems 531120 is the most appropriate NAICS number for co-working.  Is that correct?

 

I was researching the SIC Codes, but nothing seems to fit.  Any ideas?

 

Brad McKay

[Chris Aberle]

Hi Brad,

I think 531120 probably the best option, given the NAICS definition (http://www.census.gov/cgi-bin/sssd/naics/naicsrch?code=531120&search=2007%20NAICS%20Search) for that industry:

"...(3) establishments providing full service office space, whether on a lease or service contract basis."

You pick a NAICS code based on what soaks up most of your production cost or capital investment, which I think makes this accurate for most coworking spaces. This unfortunately misses the essence of coworking, but NAICS is only updated every five years and misses all sorts of emerging industries at first. Since coworking spaces spend our money on office space but we prefer to emphasize our "product" — community — I'm not sure if NAICS will ever get it completely right.

I think the SIC you'd probably want is 6512, which includes "Office building rental or leasing." The Census' NAICS to SIC crosswalk maps it that way.

I moonlight as a coworker; my day job is for a company that does a lot of niche work with labor market data. This is from the hip and I'm certainly no expert. If you are looking for laser beam accuracy and want to talk with a NAICS wizard, feel free to contact me off list and I'll hook you up.

Chris Aberle

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[Elaine Glowacki]

Don't know if I'm replying to the latest on the NAICS/SIC code topic, but 1) THANKS to all who've participated before me and 2) I started PinkSpace Coworking LLC in Madison Wisconsin USA in 2015 and am just choosing my codes. Based on the conversation here and a little more investigation, I'm choosing NAICS #813920 "Professional Organization" and SIC #8621 Professional Membership Organization. Since it's a self-selecting code system, it seems as good as any of the others suggested, and "feels" better to me :-). (Madison liberal ...)

Glad to be a part of coworking!

Elaine Glowacki