High risk NAICS codes are ones that have a higher chance of causing harm to clients or employees, such as illness or injury. Construction, agriculture, mining, and healthcare are a few examples of high risk industries. Businesses involved in these sectors can be subject to stricter health and safety laws, greater insurance costs, and more regulatory agency inspection.
NAICS codes may also apply to gig workers or independent contractors. These codes are frequently connected to the kind of job the contractor does. A rideshare driver might have an NAICS code related to transportation and warehousing, whereas a freelance writer might have one related to writing or publishing. However, as their activity may fall under a number of distinct NAICS codes, independent contractors might not always have a specific NAICS code.
The healthcare and social assistance sector often corresponds to the NAICS code for spiritual healing. A wide range of healthcare-related services, such as hospitals, clinics, and other medical facilities, are included in this industry. Because it is frequently utilized as a complementary or alternative therapy for people seeking treatment for physical or mental health difficulties, spiritual healing may fall under this category. In conclusion, businesses that operate in particular industries may be significantly impacted by high risk NAICS codes. These regulations may be linked to more stringent regulatory oversight, higher insurance costs, and other issues that could make it harder for firms to function. Although these codes might not always be specific to their particular industry, independent contractors and gig workers may also have NAICS codes connected to their employment. Last but not least, the healthcare and social aid sector often corresponds to the NAICS code for spiritual healing.