Powered by LevrNAICS 541612: Human resources consulting services
NAICS 541612 is the industry code for human resources consulting services. Use it on loan applications, tax forms and registrations. Explore financing for professional services and start your application when you are ready.
What 541612 covers
These firms advise employers on human resources: compensation and benefits planning, HR policies, employee assessment, training needs and organizational development. They consult on HR rather than supplying workers or running payroll.
Included in this code
- Compensation and benefits consulting
- HR policy and handbook consulting
- Employee assessment consulting
- Organizational development
- Outsourced HR advisory
- Affirmative action plan consulting
Not this code
- Executive search: see 561312 Executive search services
- Professional employer organizations: see 561330 Professional employer organizations
- Payroll services: see 541214 Payroll services
Businesses that use 541612
Financing for this trade
HR consultancies use a business line of credit or receivables financing to cover gaps in client payments, SBA 7(a) loans to hire consultants or acquire a book of clients, and business credit cards for software and travel. Lenders look at recurring retainer clients, contract terms and concentration.
Apply for funding with AIIs 541612 the right code for an HR consulting firm?
Yes, if you advise employers on compensation, benefits, HR policies, assessments or organizational development. Fractional HR advisors and compensation consultants belong here. If you recruit candidates, use 561311 or 561312. If you co employ staff and run payroll and benefits as a PEO, use 561330. Payroll processors belong in 541214.
What is the SBA size standard for 541612?
SBA sets the size standard for 541612 at $29 million in average annual receipts, averaged over the last five completed fiscal years and counting affiliates. Human resources consulting firms at or under that figure qualify as small businesses for SBA 7(a) and 504 loans and for federal small business set asides. Most independent human resources consulting firms fall well inside the limit, so size is rarely what decides an SBA application.
What financing do HR consulting firms use?
A business line of credit or invoice factoring covers the wait between billing clients and getting paid. SBA 7(a) loans fund hiring, technology and acquiring another consultant's client book. Lenders focus on retainer revenue, client spread and the owner's credit profile, since there is little equipment to secure a loan.
What does NAICS 541612 cover?
Human resources consulting services. Industry level code in NAICS 2022, under 54 Professional, scientific, and technical services, 541 Professional, scientific, and technical services, 5416 Management, scientific, and technical consulting services, 54161 Management consulting services.
What financing do NAICS 541612 businesses use?
Equipment financing, working capital, SBA loans and invoice factoring are the products placed most for professional services businesses. Start an application and the AI matches the deal to lenders that fund this code.
Where do I put NAICS 541612?
On the SBA loan application, on federal Schedule C or Form 1120, on SAM.gov and state registrations, and on most lender applications. A business can report more than one code; use this one if it describes what produces most of your revenue.