What is a D-U-N-S Number?
A D-U-N-S Number is a unique nine-digit identification number assigned to businesses by Dun & Bradstreet (D&B). It's used to identify and track companies globally, serving as a standardized way to identify businesses for:
* Credit reporting: Banks and lenders use D-U-N-S Numbers to assess creditworthiness.
* Supplier identification: Businesses use them to identify potential suppliers and partners.
* Government procurement: Many government agencies require D-U-N-S Numbers for businesses to participate in bids and contracts.
* Market research: D&B uses the data it collects to create reports and insights on businesses.
Examples:
* A small business owner wants to apply for a loan. The bank may require them to provide their D-U-N-S Number to assess their credit history.
* A large corporation is looking for a new supplier. They may use D-U-N-S Numbers to identify and evaluate potential suppliers.
* A government agency is awarding a contract for a construction project. They may require all bidding companies to have a D-U-N-S Number.
How to get a D-U-N-S Number:
You can apply for a D-U-N-S Number directly through Dun & Bradstreet's website. The process is usually free and takes a few business days.
Note: The term "duns" can sometimes be used informally to refer to D-U-N-S Numbers, but it's important to use the full acronym to avoid confusion.