LibGuides: ACCT/FIN_420: Cannabis: Challenges and Opportunities: Industry Analysis

Cannabis Business Times

North American Industry Classification System (NAICS)

U.S. Census Bureau tutorial about NAICS

Who assigns NAICS codes to businesses and how?

"There is no central government agency with the role of assigning, monitoring, or approving NAICS codes for establishments. Individual establishments are assigned NAICS codes by various agencies for various purposes using a variety of methods.

The U.S. Census Bureau assigns one NAICS code to each establishment based on its primary activity (generally the activity that generates the most revenue for the establishment) to collect, tabulate, analyze, and disseminate statistical data describing the economy of the United States. Generally, the U.S. Census Bureau's NAICS classification codes are derived from information that the business establishment provided on surveys, census forms, or administrative records.

Various other government agencies, trade associations, and regulation boards adopted the NAICS classification system to assign codes to their own lists of establishments for their own programmatic needs." (source: U.S. Census Bureau)

Note: "Title 13, U.S. Code, Section 9 (a) prohibits the U.S. Census Bureau from disclosing individual company activities including NAICS and SIC codes." (source: U.S. Census Bureau) A public company is also not required to publicize its NAICS code. Independent research firms may assign NAICS codes to companies but accuracy, comprehensiveness, and consistency are not guaranteed.

NAICS Lookup Tool
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 U.S. business economy.

NAICS was developed under the auspices of the Office of Management and Budget (OMB), and adopted in 1997 to replace the Standard Industrial Classification (SIC) system.

This official U.S. Government Web site provides the latest information on plans for NAICS revisions, as well as access to various NAICS reference files and tools.
U.S. Census Bureau: Industry Statistics Portal
The Industry Statistics Portal provides access to Census Bureau programs that provide economic data for a user-selected industry.

Library Subscription Databases

IBISWorld This link opens in a new window
Comprehensive U.S. industry reports and related content for 16 NAICS sectors, 700 NAICS industries and many specialized industries at the national level, state-level industry reports for states contributing most to the U.S. economy (includes reports for top-contributing industries in the state), and state economic profiles. Content includes interactive, searchable, and downloadable industry reports featuring industry performance and outlook, supply chains, product and market characteristics and segmentation, SWOT analysis, disruptive technology analysis, competitive landscape, major companies, operating conditions, and key statistics including industry financial ratios from RMA Annual Statement Studies, as well as condensed iExpert Summary Reports SWOT analyses and call preparation questions, Business Environment Profiles identifying key external factors determining industry performance, and Industry Insider section containing spotlight reports, featured articles, and more. Interactive data, charts, and tables are downloadable in various formats. Drexel subscribes to U.S. content only.
Keywords: company, five forces, industry, market research, state, SWOT

In addition to industry reports, you will find IBISWorld Industry Insider content:

-IBISWorld Industry Insider articles about Canadian/North American cannabis market

-additional Industry Insider content: U.S., Canada (1, 2, 3)

Mergent Intellect This link opens in a new window
Data and information about active and inactive public and private U.S. and international companies, company and industry news, and more. In addition to profiles containing descriptive and financial details about active and inactive companies, Mergent Intellect features consumer data, Nielsen demographic and U.S. Census data, industry reports (U.S., Canada, global), and key business ratios. Includes D&B Million Dollar Database, Hoover's Online, and Mergent Key Business Ratios on the Web
Keywords: company, demographic, finance, industry, job

-To access industry reports in Mergent Intellect:

-on Mergent Intellect landing page, select First Research

-log in with your Drexel email address

-search by NAICS code or keyword cannabis

Statista This link opens in a new window
Largest available data aggregator for statistics, offering more than one million statistics and facts from more than 18,000 sources within the United States and internationally. Statistics, statistical dossiers, reports, surveys, and market studies are categorized into industries, broad topics, countries, and consumer, digital, and mobility markets. Global Consumer Survey covers more than 50 industries, more than 5,000 international brands, and additional topics from a global perspective. Business Plan Export aids in market modeling, business case development, and profit and loss statement creation.

-search for: cannabis, CBD, hemp

-on results pages, can limit Countries & Territories to: Canada, United States

-use the Source citation to find additional and/or more recent relevant statistics from that source