Introduction
If you are a business owner or planning to start one, have you heard of a DUNS number? It may sound like just another code or license number, but it can actually be a game-changer for your business. A DUNS number, which stands for Data Universal Numbering System, is a unique nine-digit identifier for businesses. It is used to establish business credit, validate and track shipments, and provide information for credit inquiries. In this article, we will teach you how to get a DUNS number and help set your business on the path to credibility and success.
Step-by-Step Guide
Getting a DUNS number is a straightforward process. Here’s how you can get started:
Step 1: Check if you already have a DUNS number
Before starting the application process, make sure your business doesn’t already have a DUNS number. Check if you have received any credit offers or catalogs. If you have a business phone number, try looking it up on the Dun & Bradstreet website. If you get a match, you may already have a DUNS number.
Step 2: Go to the Dun & Bradstreet website
To obtain a DUNS number, you will need to visit the Dun & Bradstreet website and follow the prompts to apply for a number. Make sure you have all the necessary information and paperwork before starting the application.
Step 3: Gather the necessary information
You will need to provide the following information to apply for a DUNS number:
- Legal name of your business
- Physical and mailing address
- Phone number and email address
- Number of employees
- Whether you operate from a home office
- Type of business structure (e.g. sole proprietorship, LLC, corporation)
- Year your business was established
- Name of the owner or authorized officer of the business
Step 4: Submit the application
Fill in all the necessary information on the application form and submit it to Dun & Bradstreet. It shouldn’t take too long to complete, depending on how fast you can fill out the form.
Step 5: Wait for the confirmation
After submitting the application, you will receive an email from Dun & Bradstreet within a few business days. The email will contain your DUNS number and other relevant information. You can now use your DUNS number to start establishing your business credibility in various ways.
Application Process Overview
The DUNS number application process can typically take about a week, though it may be shorter or longer depending on the volume of requests Dun & Bradstreet is processing. Generally, most applications are approved within this timeframe.
Once your application has been approved, you can start using your DUNS number. It is important to note that a DUNS number does not guarantee credit or financing, but it is a key component of the process. Your business credit profile and history will also be taken into consideration during credit and financing inquiries.
Advantages and Uses
Having a DUNS number provides numerous advantages for businesses. Some of these advantages include:
Credibility
A DUNS number helps establish credibility for your business. It shows that you are registered with Dun & Bradstreet, a well-known financial information company. This can lead to increased confidence from potential customers and suppliers and foster better relationships with lenders and creditors.
Business Credit
A DUNS number can also help establish business credit. Many business entities use the number to evaluate a company and determine whether it is trustworthy when it comes to paying invoices and loans.
Government Contracting
The U.S. government requires businesses to have a DUNS number when bidding on government contracts. If your business wants to work with the government, a DUNS number is essential.
Common Mistakes to Avoid
There are some common mistakes that people make when trying to obtain a DUNS number. These include:
Not Having Enough Information
The DUNS number application process requires specific information about your business. Make sure you have all the necessary documents and information before submitting the application.
Providing Incorrect Information
Double-check all the information you provide on the application. Small mistakes can lead to delays or even rejection of your application.
Not Following Up
If you don’t receive your DUNS number within a week, follow up with Dun & Bradstreet to ensure that your application hasn’t been overlooked. You can usually check the status of your application on the website.
Frequently Asked Questions
Here are some frequently asked questions related to DUNS numbers:
1. What is the cost of obtaining a DUNS number?
Obtaining a DUNS number is free of charge. However, if you need help with other services provided by Dun & Bradstreet, you may have to pay a separate fee.
2. How long does it take to get a DUNS number?
The application process takes about a week on average, but may be shorter or longer depending on the volume of applications.
3. Can I get a DUNS number without a registered business?
No, you must have a registered business, either as a sole proprietorship, LLC, or corporation to be eligible for a DUNS number.
4. What should I do if I have issues with my DUNS number application?
If you have any issues with your application, or need further guidance or assistance, you can contact Dun & Bradstreet customer service.
Conclusion
In today’s competitive business environment, it is essential to establish credibility and secure financing. A DUNS number is a great way to achieve this. This guide has covered everything you need to know about how to get a DUNS number, including the advantages and uses, common mistakes to avoid, and answers to some frequently asked questions. As you apply for a DUNS number, remember to double-check all the information you provide and follow up if necessary.
