Handle Your Business

 

Have you registered your business with Dun and Bradstreet?

Not sure whether your company needs to get a Duns Number?

Well, there are four reasons why you should:

1. A dun and bradstreet number is the most widely used identifying number for companies in the U.S.

 

2. When applying for a duns number you can self-report information about your business. This gives you the opportunity to ensure that your company is viewed in the best light when potential creditors review your DNB file.
3. It’s the number used to create a business credit profile that’s separate from your personal credit file.
4. You can establish a business credit score (Paydex Score) which gives your company the ability to establish its own creditworthiness.

So what exactly are Dun and Bradstreet Numbers?

It’s known as the Data Universal Numbering System and it consist of a nine-digit number that is unique to each company. More than 50 global, industry, and trade associations recommend and/or require that businesses have one.

Get a Duns Number

Here are three steps on how to get a Duns Number:

Step 1

Go to the DNB eUpdate web site

Step 2

Enter your company name, city, and state then click on the ‘Next’ tab to conduct a company search. This will first check to see if your company already has a listing. If so, then you will need to register with iUpdate so you can update your company profile and view your existing report.

Step 3

If your company is not listed then you have three options:

Option 1 You can get a duns number within 30 business days at no charge by clicking on the ‘Get Started’ tab.

Option 2 – You can purchase one of Dun and Bradstreet’s services which expedite the process. For example, D-U-N-S Registered Seal service includes a Duns number in 24 hours. There’s also DUNS File Creator which takes 5 business days.

Option 3 – If your business plans to bid for government contracts or grants you can obtain a duns number free within a matter of days. Completing CCR registration is mandatory for companies wishing to do business with the U.S. Federal Government.

Once you obtain your Dun and Bradstreet number the next step is getting registered with the DNB iUpdate system. This system allows you to update and view your company credit file as well as dispute any errors that you may uncover.

Remember, once you obtain your Duns Number the next step is establishing business credit by adding positive trade references to your file. Once your business has a minimum of three trade lines reporting Dun and Bradstreet will generate a Paydex Score.

This is the beginning stages of how you can establish a creditworthy company.

What other steps have you taken to start building credit for your business?

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