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NAICS 541714, industry

NAICS 541714: Research and development in biotechnology (except nanobiotechnology)

NAICS 541714 is the industry code for research and development in biotechnology (except nanobiotechnology). Use it on loan applications, tax forms and registrations. Explore financing for professional services and start your application when you are ready.

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What 541714 covers

These companies conduct research and experimental development in biotechnology, using living organisms, cells and molecular biology to create new drugs, diagnostics, agricultural traits or industrial processes. Preclinical and clinical stage biotechs and contract research labs doing biotech work fit here.

Included in this code

  • Drug discovery research
  • Genetic engineering R&D
  • Diagnostics development
  • Agricultural biotechnology research
  • Cell and gene therapy R&D
  • Bioprocess development

Not this code

Businesses that use 541714

Preclinical biotech startupGene therapy developerAg biotech research companyContract biotech research lab

Financing for this trade

Biotech R&D firms fund work with equity, SBIR and STTR grants, venture debt, and equipment financing or sale leasebacks for lab instruments. Lab buildouts sometimes use landlord allowances or SBA 504 loans. Lenders focus on cash runway, investor syndicate, pipeline milestones and partnership revenue.

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Is 541714 the right code for a biotechnology research company?

Yes, if your main activity is biotechnology research and development such as drug discovery, gene and cell therapy, diagnostics or agricultural biotech, without a nanoscale focus. Contract research organizations doing biotech experiments also fit. If you manufacture approved drugs, use 325412. Labs testing patient samples for doctors belong in 621511.

What is the SBA size standard for 541714?

SBA sets the size standard for 541714 at 1,000 employees, based on average headcount over the past 24 months and counting affiliates. Biotech R&D companies at or under that figure qualify as small businesses for SBA 7(a) and 504 loans, SBIR and STTR awards and federal small business set asides. Revenue does not matter for this test, only headcount.

How do biotech startups fund research?

Beyond equity, biotechs use SBIR and STTR grants, venture debt from specialty lenders, and equipment loans or leases for sequencers, bioreactors and analytical instruments. Royalty and milestone financing appears later in development. Lenders evaluate runway, investor backing, clinical milestones and the liquidity of lab equipment.

What does NAICS 541714 cover?

Research and development in biotechnology (except nanobiotechnology). Industry level code in NAICS 2022, under 54 Professional, scientific, and technical services, 541 Professional, scientific, and technical services, 5417 Scientific research and development services, 54171 Research and development in the physical, engineering, and life sciences.

What financing do NAICS 541714 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 541714?

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.