In this article we are going to explore why women in business need a DUNS number and exactly how to get one. Grab a pen or take mental notes and let’s get into it.
What is a DUNS number? And Why It’s Important for Women in Business
DUNS is an acronym that stands for Data Universal Numbering System. It is a distinct (9) nine-digit number that is offered by Dun & Bradstreet (D&B). You can almost of think of it like a social security number for your business. Companies determine your personal credit worthiness using your social security number and companies determine your business creditworthiness based upon your D & B Rating.
D&B is the one of the oldest credit beau’s in the United States. Most of us are familiar with Experian, Equifax and TransUnion. Well, D&B behaves like those companies, but they do it for businesses. Your DUNS number establishes your organizations D&B profile, which is used to identity your business world-wide.
Also, if you want to apply to a Federal grant or you find yourself being the recipient of one, then you will need a DUNS number. You can apply to one quickly by calling 1-866-705-5711.
Your Dun & Bradstreet Rating and How Does It Affect Your Business?
When you receive a DUNS number it lets the world know that your business has been validated and that it’s ready to be recognized world-wide. Also, as previously stated DUNS number helps to establish the creditworthiness of your business. If you ever want to receive a business loan then you would want to have a DUNS number.
Where does a woman in business go to get a DUNS Number?
To start the process of getting a DUNS number women in business should visit the Dun and Bradstreet website or call the number above. The process is easy. All you will need is your IRS EIN Statement Letter, Business Certificate or copy of a utility bill or cell phone bill.
You will be asked to submit these documents to verify your business. Once you’ve submitted these documents your company will have a D&B Listing that will look like this:
Do Women in Business Have to Pay a Fee to get a DUNS number?
No. You do not have to pay a fee to get a DUNS number. They are 100% FREE and you do not have to reapply. As a matter of fact your DUNS will stay with your business even if you dissolve it.
What Can You Do with a DUNS Number Once You Get It?
There a several things that you can do once you get this number. And they are:
- Apply to government contracts
- Get financing
- Establish business credit
- Track your business ratings
Well, I hope that this helps you to understand what you need to know about applying for a DUNS number. It was so easy, I applied to mind right in the middle of writing this article.
I hope you enjoyed this content. If you did, please leave a comment below. Also, if you’re would like more training to help you grow your business then you definitely should check out becoming a member of the Network for Women in Business and you can do that by clicking here.