Why Get a Dun & Bradstreet Registration Number For Your Business

The power of the D-U-N-S Number

For those who have established small businesses, one of the key things you need to do is to ensure that your company is registered by Dun & Bradstreet. A Dun & Bradstreet registration gives a company a unique nine digit company identification number specifically referred to as Data-Universal-Numbering-System( DUNS). This number works as the business version of an individual's social security number and does play a very essential role when it comes to establishing the credit worthiness of your business.

Dun and Bradstreet is among the world's market leader in matters involving business credit reports as well as supply management data. If you are very serious about your business, the best thing you can do is to register with D&B and start creating your business' credit file. Below is a list of reasons why your business needs to have a DUNS number.

Establish Credibility

In the business world, having a DUNS number shows that you are very serious with your business and you are ready to share your credit worthiness with the rest of the world. All financial institutions such as banks are able to check your information and you are not afraid to showcase the image of your business to the rest of the world. It is also very crucial since it shows that your business fully complies with business regulations and policies.

Easy and Quick Loan Approvals

When your business applies for a loan or any form of financial help, the first thing they do is to check your credit rating from D&B database.

This makes it for you to get money within a short period of time. After banks have verified that your credit report is good, automatically the loans are going to be approved as quick as you never expected. Thus, as a business owner, it is good to have Dun & Bradstreet registration number to enjoy as many benefits as possible.

Business Validation

Having a D-U-N-S number for your business is a prestigious thing you will ever give to your company. This is because it is easy to for your potential clients to check your business credentials. When the potential customers log in into the database of D&B using your nine digit number, all the information concerning your business is displayed. When all the information is positive and considerable, definitely they will automatically develop a trading partnership with you.

Increases Buying Power For Your Business

If your business has an account from D&B, you will be in a position to establish strong business relationship with your suppliers. This is because you shall be able to create a chain of suppliers by using their DUNS number. By so doing, you will have a specific line of suppliers whom you can easily negotiate with when it comes to lowering the supply cost. In the long term, buying items at low cost will boost your business by reducing cash outflow thus increasing your business' buying power.

Easy To Be Allocated Government Contracts

If your business has any intention to apply for an SBA loan, then having the DUNS number will increase your chances. Being given government related loans, government contracts and tenders or any other activity that involves working in conjunction with the government, the DUNS number will always be required.

This means that if you have this number and you are competing with other businesses that do not have, then definitely you will be in a position to win all of them.

When you win all the government related business activities, it actually means that your business will boom. This helps you enjoy economies of scale due to high returns. Thus, we would advise you undertake Dun & Bradstreet registration for your business and acquire the DUNS number.

In conclusion, we would like to urge every business owner who wants to establish a strong business enterprise, having a D-U-N-S number is a great highway that will take you there. The nine digit number will make it easier for you to link with different suppliers as well as potential customers. It will also help you to identify new suppliers. Alternatively, many suppliers will also come your away for so long as your business credit rating is fair enough.

It will also be very easy for you to get loan approvals from different financial institutions in a short period of time.