If you are considering entering your business in government contracting, there are a number of advantages to working with the U.S. government. Lucrative, sizable contracts across multiple product or service areas, timely payment, and opportunities for renewals make government contracting an excellent source of revenue and prolonged success for your business.
The Department of Defense (DoD) maintains a sizable contracting marketplace vehicle. However, to participate in Defense Market Bidding, a business needs to go through multiple steps to be registered and approved to work with the DoD. Prior to registering your business with the DoD marketplace, you must first obtain a Data Universal Number System number. The Data Universal Number system is sometimes abbreviated as DUNS, but most of the time, is represented with dashes as D-U-N-S. The number itself is represented a unique, nine-character number, at times represented with dashes for readability, for example: “12-345-6789,” but officially represented as “123456789.” The federal government uses the D-U-N-S number to identify your business and track the allocation process of federal funds.