A D-U-N-S (Data Universal Numbering System) number is a unique nine-digit identifier for businesses, developed by Dun & Bradstreet (D&B) in 1963 to help support their own credit reporting practice. The DUNS system was quickly adopted worldwide and is currently used across the European Commission, the United Nations, and the United States government. It is recognised within more than 50 industry and trade associations spanning the globe, and the DUNS database holds more than 280 million worldwide business entries.
A DUNS number is valuable to have when your company is trying to secure finance via a credit card or loan. Your company will have a D&B business credit file logged in the DUNS database. This database will be referenced by potential lenders to help them work out your financial reliability and stability. Your credit file can also be accessed by potential partners who are making sure that your company is legitimate and financially stable before partnering with you. Having a DUNS number can help your business to establish a good level of credibility with potential lenders and can win you more favorable terms for loans and business contracts. You will also be seen as a legitimate and serious company in the eyes of government bodies both within and outside of your home country, so would be more likely to be considered for home and foreign government contracts.
If your company is registered in the UK or Ireland, you will automatically be issued with your own individual D-U-N-S Number. Obtaining your number from Dun & Bradstreet is completely free of charge. If your company is registered outside of the UK or Ireland, you can request a number online through the Request a DUNS number section of the Dun & Bradstreet website. The process usually takes 5 working days. You will need to supply the following information in order to apply:
- Legal name
- Headquarters name and address for your company
- Doing Business As (DBA) or other name by which your company is known
- Physical address
- Mailing address (if separate from headquarters / physical address)
- Phone number
- Contact name and title
- Number of employees at the physical location
- Whether your company is based out of your home address.
In conclusion, a DUNS number is a unique identifier for businesses that can help establish credibility with potential lenders and government bodies. It is free to obtain a DUNS number from Dun & Bradstreet, and all newly registered companies in the UK and Ireland will automatically be issued with their own individual D-U-N-S Number.
