Business codes are standardized numerical or alphanumeric identifiers used to classify and categorize businesses based on their primary activities. These codes help government agencies, researchers, and businesses themselves to analyze economic data, track industry trends, and ensure compliance with regulations. Common examples include the North American Industry Classification System (NAICS) and the Standard Industrial Classification (SIC) codes. These codes facilitate communication and data sharing among various stakeholders, including financial institutions, government bodies, and market analysts. By using a consistent coding system, organizations can better understand market dynamics, identify potential competitors, and make informed decisions regarding investments and resource allocation.