What is a DUNS Number and Why Does Your Business Need One?
Credibility and transparency are the secrets of success in the contemporary business environment that is characterized by global interconnectedness. Among the key instruments that contribute to the creation of both is a DUNS Number. In Masuu Global, we have realized the significance that businesses both large and small should have their presence felt internationally. That is why we are here in order to help you to know what DUNS Number is and how it can contribute to your business development.
What is a DUNS Number?
DUNS Number (Data Universal Numbering System) is a nine-digit code, a business identification number, assigned by Dun & Bradstreet (D&B) to businesses, that uniquely identifies business entities worldwide. This is the figure used in creating a business credit file, which is usually consulted by the lenders, suppliers and prospective partners of a business in order to determine the financial stability and trustworthiness of a company.
Every DUNS Number is specific to one physical address, so when a company has more than one branch or office, each location can have its own DUNS Number.
Why is a DUNS Number Important?
It has multiple purposes in the global businesses:- Credibility and Validation: It increases credibility of a company in the global market. It validates that a legitimate business exists and provides transparency to the clients, suppliers, and investors.
- Global Trade and Partnerships: Numerous international agencies and government agencies need it to bid on contracts or other partnerships. As an example, business entities interested in partnering with the U.S government or seeking grants require one.
- Business Credit History: It will associate your business with the Dun & Bradstreet business credit file. It matters in establishing a credit history, obtaining credit, or securing an improved payment term with vendors.
- Supply Chain and Vendor Registration: Major companies tend to require DUNS Numbers when registering new suppliers or vendors as a risk management prevention method.
Who Needs a DUNS Number?
It can be an asset whether you operate a startup company, an SME that is expanding or an established business looking to expand internationally. It is particularly needed:- Improvers and exporters
- Companies seeking foreign investment
- Firms aspiring to join multinational companies
- Companies that wanted to contract with the government
How to Get a DUNS Number
Obtaining it is easy and in the majority of cases it is free. Through the web site of Dun & Bradstreet businesses can apply themselves or through authorized representatives. At Masuu Global, we walk with our clients through the application process with all the information correctly filed and according to the international standards.
It is not simply some number, it is an entry to new opportunities. It leads to global trade, financial ties and enhanced business credibility. Masuu Global is dedicated to ensuring that clients across the board can help reach into their global potential, and it is one of the initial portals to that goal.
Need assistance obtaining your DUNS Number? Contact Masuu Global now and we’ll walk you through the process, so you can focus on what really matters – your business.
