523910

Analysis

NAICS 523910 is the 2022 national industry for miscellaneous intermediation, part of 52391 (Miscellaneous Intermediation). Census lists 9 example activities under it in the official index.

Between 2018 and 2023 the number of establishments grew 53% and employment rose 28%. The 2018 count used NAICS 2017, so part of a large move can come from codes being redefined rather than from businesses opening or closing.

County Business Patterns counts 12,892 US establishments in this code in 2023, employing 60,341 people at an average annual payroll of $247,044 per employee (100th percentile of national industries). 82% of the establishments have fewer than five employees, which marks it as a small-business industry.

Its index entries, the activities Census uses to assign businesses to this code, include individuals investing in financial contracts on own account, investment clubs, mineral royalties or leases dealing (i.e., acting as a… and mortgage dealers, buying and selling, among 9 in all.

For example, investment banking, securities dealing, securities brokering, commodity contracts dealing, or commodity contracts brokering are classified in 5231 (Securities and Commodity Contracts Intermediation and Brokerage) instead.

Census lists 2 related activities that belong elsewhere, most often in 5231 and 523940. Businesses that do several things are classified by their primary activity, the one that generates the most value, so check those boundaries before settling on this code.