SIC codes or industry standard codes are in place for businesses to identify themselves and potential clients when they’re ready to get categorized. The infograph below not only tells you the law office sic code for law offices, it also explains why law offices would want to have a SIC code at all and how GoKapital Loans can help your law office to maximize the usefulness of your SIC code.
A SIC code may be most useful to a business for future business decisions. This is something that few law offices do not use their SIC code for. It is worth investigating whether knowing the industry classification is actually helpful in making informed business decisions. Specifically, many forget to ask how your SIC code can impact your loan terms when trying to get qualified for a loan.
SIC codes provide a standardized way to classify growth sectors within both the product and service industries. Updating on an ongoing basis ensures that your SIC code is correct at all times. An inaccurate code can lead to incorrect information being reported about your law office, which could hurt your chances of getting a line of credit approved or approved for a loan to invest in your practice. A good SIC code lets others know that you are in the legal profession and that you are a defender of the legal system.
If you want to best position your law office to be able to get financing or funding that you need, keep your SIC code up to date and look for options to use your SIC code to your advantage. GoKapital has the financing products that you need and wants to help you to maximize the value of your financing by updating your SIC codes.
For more information on SIC codes and their importance, you can visit the Wikipedia page on Standard Industrial Classification.