60
Current Standard Industrial Classification codes inadequately represent diverse contemporary business activity.
Conclusion
The Government will not be able to deliver change for businesses unless it is able to accurately track and monitor business activity. Current Standard Industrial Classification (SIC) codes fail to identify and define sub-sectors of economic activity. Under these classifications, hair and beauty are represented as one industry and identified as the same type of service as launderettes or funeral homes. Such distortions fail to adequately represent the reality of contemporary business activity. (Conclusion, Paragraph 210)
Source
Committee
Business and Trade Committee
Inquiry
Small business strategy
Report
15th Report – Small business strategy
11 Feb 2026
HC 1057
Addressee Bodies
Department for Business and Trade
Timeline
Recommendation age
0.3 yrs
Report published
11 Feb 2026