Whether you are thinking about starting a business or are looking to enter into partnerships, a data universal numbering system (D-U-N-S) can help you make a major impact. Although it is crucial for entrepreneurs to be familiar with the D-U-N-S number, very few have a complete idea of what it exactly is. And so, if you too are someone who wonders ‘what exactly is a D-U-N-S number?’ and ‘what is it used for?’ then this article is for you.
What is a D-U-N-S Number?
Simply put, a D-U-N-S or data universal numbering system is a unique nine-digit series of numerals that identifies a business. This numbering system was created by Dun & Bradstreet (D&B) in 1960 and is widely used as a standard business identifier.
A D-U-N-S number also generates a business profile in its database, which provides the organisation’s name, phone number, the address line of business and other relevant information. The D&B database is known to maintain business information on more than 300 million global businesses.
Why Do You Need a D-U-N-S Number?
A D-U-N-S number is absolutely pivotal for all business owners as it helps them obtain business financing while opening new doors to opportunities and partnerships. Here are some reasons why you need a D-U-N-S number:
Helps You Establish Business Credit
Building a strong credit history would help you attract other businesses to partner with you. Having a D-U-N-S number would also ease the daunting task of receiving a loan from a lender and expedite the entire process.
Helps You Establish Credibility
One of the major reasons your business should have a D-U-N-S number is that it is a sign of credibility. It is also a sign that you intend to comply with all the business regulations.
Apply for Government Contracts
Many international companies, as well as governments, require a D-U-N-S number while submitting a bid. Having this number also enables potential partners to carry out risk evaluations of your company and ensure the stability and legitimacy of your business.
Faster SSL Certificate Approval
A Secure Sockets Layer (SSL) certificate is a credential that would help make your company’s website more secure. Although a D-U-N-S number is not a requirement to apply for one, it sure helps if you already have it as it expedites the process.
How Do You Get a D-U-N-S Number?
A D-U-N-S registration is free of cost. However, before applying for one for your company, ensure whether your business already has one. You can do this by doing a D-U-N-S number lookup on the D&B website. If your business does not have one, you can request the same on D&B’s website. To register for this number all you would have to do is provide basic information about your company such as:
- The legal name of your business
- Business address
- Your Business’ Doing Business As (DBA)
- Phone number
- The name of the business owner
- Year founded
- The number of employees
After you have submitted all the details, you need to wait for around 30 days to receive your D-U-N-S number. However, you can expedite the process by paying a nominal amount.
Considering how fragile the market is right now, it is best to stay on top of things. Registering for a D-U-N-S number on the Dun and Bradstreet website is a great way of going about it. So, register to D&B right away!
