Your small business will need a DUNS Number: Here is how to get one — HelloLeads Blog

Have you heard about DUNS number? If not, now it is time to get one for your small business.

A D-U-N-S or Data Universal Numbering System is a unique nine-digit number issued by the data and analytics services provider Dun & Bradstreet to a business entity. This number was introduced in 1963, which helps to predict a company’s business credit file and helps lenders and business partners to get an idea of a company’s reliability and financial stability.

Why do you need a DUNS number?

Getting a DUNS number has the following merits:

  • Helps to track your business’s credit
  • Manage risk and reduce cost
  • Keeps your personal and business credit separate
  • Establish creditability with lenders for loans & contracts
  • Allows you to do business with government & companies outside the U.S.
  • Allows you to learn more about a business that you want to work with

Applying for a DUNS Number is relatively easy and can be done using the D&B website. The DUNS application should take you between five to 10 minutes. Getting DUNS is free for up to 30 days unless you expedite it to get it in 5 days or sooner.

Before applying for a DUNS number, you have to provide the following:

  • Name of your organization
  • Business address
  • Mailing address
  • Owner’s name
  • Nature of the business
  • Number of employees
  • Contact number
  • Contact name
  • Whether you are a home-based business

Here you go with 5 easy steps to get your DUNS number,

Step1 : Enter into the D&B website :

First, visit the D&B website. Once you visit the D&B website, on the DUNS Number request page, it shows you to get started.

Step 2 : Select the primary reason :

After getting started, it will ask you for the primary reason for registering a D-U-N-S number. You can select any one option from the given list. For example, if you’re doing a United States-based business without depending on the federal government, then select “I have a U.S. based business”.

If you are doing as a contractor/grantee for the US government, you can visit the D&B D-U-N-S request service for US Federal Government Contractors and Assistance site and request your DUNS Number there.

Step 3 : Search your business :

Next fill in the necessary business details such as legal business name, mailing address, etc. Then, click search to check whether D&B has already created a DUNS number for your business or not.

Step 4 : Request a new DUNS number :

You will get the line “Get a New D-U-N-S Number” at the bottom of the page if your entered business information is correct and verified for moving to the next step. This means that the D&B file does not have your business on it already. By clicking this, you can get a new DUNS number.

Step 5 : Choose your delivery package options :

Once you have finished the company search, you will enter into the D&B credit file package options. There are multiple package options to select and request your DUNS number. The options are free of cost for 30-day delivery or expedited 5 days delivery with a cost of around $229.

Other information also you should know :

  • You have an option to monitor your business credit file. Once you have your D‑U‑N‑S Number, you can monitor your business credit file. D&B CreditSignal® is a free, alerts-based business credit monitoring product that uses indicators to show changes to the scores and ratings in your business credit file at all times
  • You can look up your partner’s business or find your business D-U-N-S Number
  • You can review and update your company’s D&B business information for free. Any updates for a business name, business address, contact numbers, annual sales & number of employees, etc. to an existing D-U-N-S Number. This will take up to 7 business days.
  • If you received the message, “Your organization is not listed as a legal entity” during enrolment means, your business is listed as a legal entity. If you believe your business should be listed as a legal entity and have business registration documents already, then email to D&B.
  • You can get a variety of scores & ratings from D&B once your DUNS number is established. This scores & ratings act as a signal to lenders and businesses if your company has a reliable payment history.

Bottom Line :

DUNS number can help your partners to see financial health indicators of your business, such as your D&B business credit score and ratings, information on suits, liens, judgments, and other types of activity. This will help them to decide whether to work with your business.

DUNS is a type of tool to set your business towards success, especially when you want to grow in the future.

Originally published at https://www.helloleads.io.

--

--

--

Accelerate your sales with HelloLeads — a simple and smart CRM for your business. Try HelloLeads for a free plan and improve your sales today. helloleads.io

Love podcasts or audiobooks? Learn on the go with our new app.

Recommended from Medium

Win or Lose on Your Own Merit

How to get $20K in sales in 7 days

screen showing sales growth

A guide to building an MVP. How to innovate with minimum viable products.

8 stages in the life of a technology company

This is The CEO’s Most Important Job

Networks, Networth and Netgain

Funding Dictionary: Foundations

The top 4 things to invest in when starting a business with less than #500,000

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
HelloLeads

HelloLeads

Accelerate your sales with HelloLeads — a simple and smart CRM for your business. Try HelloLeads for a free plan and improve your sales today. helloleads.io

More from Medium

How To Ease Client Anxiety In Your Service-Based Business

How I Understood Venture Builders As A Startup Owner

INSIGHTS: Q&A with Business Leaders on how to achieve high growth