A specific NAICS industry is commercial banking, and it is assigned its own classification code (522110). It is found in the finance and insurance sector, which contains other industries such as credit intermediaries, financial investment companies, insurance carriers, funds, trusts, and other financial vehicles.<\/span><\/p>"
}
}
,
{
"@type": "Question",
"name": "What Is the Difference Between an Industry and a Sector?",
"acceptedAnswer": {
"@type": "Answer",
"text": " “Sector” is a broader term than “industry.” Industries are contained within sectors, but not vice versa. For example, consumer goods is a sector. This sector can then be broken into different consumables industries, such as clothes or personal health.<\/p>"
}
}
,
{
"@type": "Question",
"name": "What Is the Difference Between an Industry and a Business?",
"acceptedAnswer": {
"@type": "Answer",
"text": " An industry is a classification that refers to a group of businesses. A business<\/a> is an entity that is operated to achieve particular business goals. When a collection of individual businesses operate in a similar manner and produce similar output, they may be grouped together and classified as part of the same industry.<\/p>"
}
}
,
{
"@type": "Question",
"name": "How Many Different Industries Are There?",
"acceptedAnswer": {
"@type": "Answer",
"text": " Different classification systems will group and report industries differently. The NAICS has historically grouped companies into roughly 20 sectors, 100 subsectors, and over 1,000 six-digit NAICS industry codes.<\/span><\/p>"
}
}
]
} ] }
]