If you own a business, you have almost certainly heard of D&B D-U-N-S® numbers. You may have wondered what they are, what they have to do with your business’s credit rating, how a company acquires one, and why they are necessary.
About the D-U-N-S®
Dun & Bradstreet’s proprietary D-U-N-S® system has become the world standard in business credit reporting. The system was established in 1963, as a means of identifying specific businesses listed in Dun & Bradstreet’s exhaustive database.
There are currently more than 120 million businesses listed in the D-U-N-S® system, and the number is constantly growing. Unlike the other bureaus that deal with business credit in the United States, Dun & Bradstreet has listings on businesses throughout the world.
D-U-N-S® and Business Credit
Businesses that have a D-U-N-S® number also have a credit file in Dun & Bradstreet’s database. When they pay their debts to suppliers that report to Dun & Bradstreet in a responsible manner, this favorable payment information is recorded in their credit files.
Businesses that build solid credit files are likely to have a much easier time getting approved for business loans, lines of credit, and business credit cards.
Enhance Your Business’s Credibility
These credit files associated with D-U-N-S® are publicly available, so they are often researched by business entities seeking information about the reliability of potential clients and suppliers. In fact, many larger business organizations will not engage in commerce with companies that do not have a D-U-N-S® number.
Many governments make use of the D-U-N-S® system as well, so businesses seeking to bid on government contracts here or abroad will most likely need a D-U-N-S® number.
Getting a D-U-N-S® number not only shows interested parties that your business takes its credibility seriously, but it also has the potential to open doors to lucrative business opportunities.
Getting a D-U-N-S® Is Easy
One might think that with all of the advantages that having a D-U-N-S® number offers, getting one would be costly or difficult. Fortunately, that is not the case. Your businesses may already have one, but if one does not already exist for your business, creating a credit profile and getting a D-U-N-S® is actually quite simple.
By contacting Dun & Bradstreet and providing them with some key information about your business, you can get one via email in as little as five business days.
[Photo Credit: www.dandb.com]