Understanding the DUNS number
- The Data Universal Numbering System (DUNS) Number is a unique 9-digit identifier for businesses worldwide.
- Issued by Dun & Bradstreet, it is widely recognized as a key tool for business identification.
Do you really need a DUNS number?
- Myth: A DUNS number is required for all business activities.
- Fact: Not mandatory for every business, but it significantly enhances growth opportunities like partnerships and global visibility.
Benefits of a DUNS number
- Enhances global business opportunities.
- Improves business visibility and credibility.
- Boosts trust in international trade.
- Facilitates government contracting and more.
When is it needed?
- Applying for loans with financial institutions.
- Bidding on local or international contracts.
- Becoming a vendor or supplier for companies.
Getting your DUNS number
- Process: Online registration through Dun & Bradstreet.
- Timeline: Approximately 30 days.
- Information required:
- Business address
- Number of employees in business locations
- Keep information updated for accuracy.
Visibility of your DUNS number
- Dun & Bradstreet maintains business credit files for over 500 million businesses.
- Governments, financial institutions, and companies use your DUNS Number to verify your business.
Uses of a DUNS number
- Helps identify and track headquarters, branches, and subsidiaries.
- Used as a primary key in Master Data Management systems.
- Prevents fraud by verifying business ownership and credibility.
Need help applying for a DUNS Number or understanding its benefits?
Contact FinStackk today for expert guidance. Let us simplify the process for you and unlock global opportunities for your business.