Before setting up your cultivation business, you will need to incorporate your company. During the company incorporation process on Companies House, you will need to provide your company’s SIC code based on the nature of your business and services. There are over 600 codes on the list of SIC codes to choose from which can be overwhelming. This article explains what a SIC code is and how to choose one for your new cultivation business.
What are standard industrial classifications?
A Standard industrial classification code (SIC code) is a five-digit business code which describes a company’s economic activities and business services. These codes help the Office for National Statistics (ONS) track the state and growth of United Kingdom (UK) companies. The condensed UK SIC code list maintained by Companies House is available on the gov.uk website. A private limited company (the most popular type) can have multiple SIC codes. Dormant companies and non-trading companies are also required to have a SIC code.
Your cultivation business can have multiple SIC codes if it has multiple business activities. SIC codes can also be updated via a confirmation statement if ever the business’ activities evolve or you carry-out new activities.
What SIC code should I use for my cultivation company?
The SIC code you should use for your cultivation business depends on what you will be cultivating. In this section we have broken down the different SIC codes that relate to agriculture, forestry and fishing into categories for you to quickly pick the right SIC code(s) for your business.
Agriculture and farming
- 01110 Growing of cereals (except rice), leguminous crops and oil seeds
- 01120 Growing of rice
- 01130 Growing of vegetables and melons, roots and tubers
- 01140 Growing of sugar cane
- 01150 Growing of tobacco
- 01160 Growing of fibre crops
- 01190 Growing of other non-perennial crops
- 01210 Growing of grapes
- 01220 Growing of tropical and subtropical fruits
- 01230 Growing of citrus fruits
- 01240 Growing of pome fruits and stone fruits
- 01250 Growing of other tree and bush fruits and nuts
- 01260 Growing of oleaginous fruits
- 01270 Growing of beverage crops
- 01280 Growing of spices, aromatic, drug and pharmaceutical crops
- 01290 Growing of other perennial crops
- 01300 Plant propagation
- 01610 Support activities for crop production
- 01630 Post-harvest crop activities
- 01640 Seed processing for propagation
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Raising of animals
- 01410 Raising of dairy cattle
- 01420 Raising of other cattle and buffaloes
- 01430 Raising of horses and other equines
- 01440 Raising of camels and camelids
- 01450 Raising of sheep and goats
- 01460 Raising of swine/pigs
- 01470 Raising of poultry
- 01490 Raising of other animals
- 01621 Farm animal boarding and care
- 01629 Support activities for animal production (other than farm animal boarding and care) n.e.c.
- 02100 Silviculture and other forestry activities
- 02200 Logging
- 02300 Gathering of wild growing non-wood products
- 02400 Support services to forestry
- 03110 Marine fishing
- 03120 Freshwater fishing
- 03210 Marine aquaculture
- 03220 Freshwater aquaculture
01500 Mixed farming
01700 Hunting, trapping and related service activities
Are you ready to start a business?
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Once you have navigated the industry classification system and chosen a SIC code for your cultivation business and finalised the incorporation process, you will need to generate legal contracts to structure your business activities. Creating lawyer-approved agreements can be costly and it can be tempting to download free templates online. However, this process is risky and unnecessary thanks to contract management platforms like Legislate. Legislate allows to tailor the essential agreements to hire and grow your business such as employment, consultancy and internship agreements. To create a lawyer-approved contract for only £9.95, sign up to Legislate today!
The opinions on this page are for general information purposes only and do not constitute legal advice on which you should rely.