VIDEO TRANSCRIPTION – What is a Duns number and why do you need it? Hi, I’m Steven D. Cooper, also known as Coach Coop with Cooper’s Accounting Service because your financial freedom matters.
If you’d like to learn more great tips, download our popular financial guide at our website, yourfinancialfreedommatters.com or click on the link below. As I was talking to one of my business clients, we were going over how to establish business credit. And I asked him, have you heard of Dun & Bradstreet? The client said, no. Then I went in to explain, what is Dun’s number?
As result of this, we cover eight points And I’m going to recap the eight points with you. Number one, Dun & Bradstreet, Dun’s number is a unique nine digit identification for businesses that associated with business life identity, which can help you evaluate potential partners, seek new contracts, apply for loans, and so much more.
Number two. You want to set up a DUNS number and your trades line prior to you needing it. What do I mean by that? You want to start the process now, build your credit lines, build credibility one to two years down the road when you actually need to apply for a business loan. Number three, you may be asked to provide your company’s DUNS number when? Number four, you’re applying for a loan with financial institutions.
Number five. Applying for a credit with a potential business partner. Number six, applying to become a vendor or supplier of a company. Number seven, bidding on a contract locally, nationally, or even internationally. Number eight, number eight is a story where one of my clients leveraged his Dun and Bradstreet number of trade lines because if he would not have done that he would not been able to purchase two trucks for his company when his business was growing.
That is the reason why you need your DUNS number and set up the credit line two to three years prior to needing it. For more easy financial tips, sign up for our newsletter by going on yourfinancialfreedommatters.com or click on the link below this video.
You can also download our financial guide as well. If you’d like a free 20 minute smart money consultation, call us at 562-436-2600. Well again, I’m Steven D. Cooper, Coach Coop with Cooper’s Accounting Service. Don’t miss our next video where we’ll cover the top seven reasons the IRS will audit you. See you on our next video.
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