Highest Funded Business Categories & NAICS Codes
9:24
MSNCal Barton
Highest Funded Business Categories & NAICS Codes
Discover the industries and NAICS codes that attract the most business funding and learn how to avoid high-risk categories that could harm your approval odds. This video highlights strategies to secure better loan terms, even if your business falls into high-risk sectors like trucking, real estate, or restaurants. Key insights include how NAICS ...
Jan 14, 2025
North American Industry Classification System NAICS Codes
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Highest Funded Business Categories & NAICS Codes
9:24
Highest Funded Business Categories & NAICS Codes
MSNCal Barton
6 months ago
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Do NOT pick the wrong NAICS code! This small detail is a huge source of audit risk. The government uses this code to run algorithms and compare your income and expenses against other businesses in the same industry. If you use the code for a Laundromat but you actually run a high-margin tech company, your finances won't align with the industry standard, and the disparity score will trigger an audit. I had a client who was audited solely because of this, and while she owed nothing, it still cost
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Do NOT pick the wrong NAICS code! This small detail is a huge source of audit risk. The government uses this code to run algorithms and compare your income and expenses against other businesses in the same industry. If you use the code for a Laundromat but you actually run a high-margin tech company, your finances won't align with the industry standard, and the disparity score will trigger an audit. I had a client who was audited solely because of this, and while she owed nothing, it still cost
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