NACE Code

The NACE Code (Nomenclature of Economic Activities) is the industry code valid throughout Europe, used to classify companies precisely according to their economic activity. It is based on the current NACE Rev. 2, which has been adapted into the WZ classification in Germany. For example, the NACE Code 47.11 stands for 'Retail sale of food in supermarkets'. Precise classification is important for statistical offices, authorities, banks, and investors as it facilitates comparisons, market analyses, and risk assessments. While a commercial registry entry does not require a NACE Code, business registration, VAT registration, or entry into the company register often demand correct industry coding.

The German equivalent to the NACE Code is the WZ Code (Wirtschaftszweig-Code) from the Federal Statistical Office. Through handelsregister.ai with AI-Mode, companies can be automatically classified based on public web data and business objects, for example, to cluster suppliers and customers.