The North American Industry Classification System (NAICS) is the standard used by Federal statistical agencies in classifying business establishments for the purpose of collecting, analyzing, and publishing statistical data related to the business economy.
► Many resources organize business information using industry codes, identifying an industry classification code can assist your search.
News or interviews with CEOs can provide really current and up to date information. You can complement or update reports you've found with the most current industry trends, projections, overall economic conditions, and social factors.
► Use the guide below to find resources for searching across various news sources.
Start researching your industry by looking for a profile or overview using key databases such as IBISWorld. Update or complement this information using sources on the web identified below.
Remember: Industry information is a spectrum, there may be lots of information about a mature industry with large public companies, and less information for a more specialized or emerging industry with a smaller economic impact. For this you may need to broaden or adapt your research approach by looking at related and proxy industries, extrapolate information from them, and adapt and analyze how it applies to your situation.
► Use to find industry profiles, analyst reports, and news.
► Search the web to complement findings from database industry profiles to add more localized or up to date information. Target your searches to look for information from government websites, industry associations, professional research firms, economic commissions, and incubators.
Governments publish statistics, demographics, labour market information, industry overviews, business economic conditions, and so much more.
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Industry or trade associations publish information for their members and often provide industry overviews, trends, forecasts, research, and directories (use to find competitors). This is often your best bet for smaller, niche, or local industries.
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Professional research firms and big banks sometimes publish research and outlooks on industries and markets for free. Public policy organizations, NGOs and think tanks do so as well, and may offer an alternative perspective.
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These organizations exist to promote business and support entrepreneurs in certain industries and/or geographies. As such they tend to publish useful local market information.
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