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It is important to update your company information in various data sources. Perhaps the most important of these is Dun & Bradstreet. A D&B D-U-N-S Number is a unique nine-digit sequence recognized as the universal standard for identifying and keeping track of over seventy million businesses worldwide. If you have not done so, you should register for your D-U-N-S Number, and if you are registered, update your information. Other data sources include federal, state, and local Web resource sites where your business may monitor contracting opportunities, vendor Web sites, and other e-commerce-related sites. It is important to change authorized users on these accounts, as well as all signature authorities, both with e-commerce and traditional brick-and-mortar businesses and entities, such as your bank.
Registration in the Central Contractor Registration system, or CCR, is equally as important as registering for a D-U-N-S Number. For any small business owner interested in doing business with the federal government, you must be registered in the CCR. The CCR is the primary database of the Department of Defense (DoD), NASA, Department of Transportation (DoT), and Department of Treasury. Both current and potential government vendors are required to register in CCR to be awarded contracts with DoD, NASA, DoT, and Department of Treasury. Vendors are required to complete a one-time registration to provide basic information relevant to procurement and financial transactions. Vendors must update or renew their registrations annually to maintain an active status.
CCR validates the vendor’s information and electronically shares the secure and encrypted data with the federal agencies’ finance offices to facilitate paperless payments through electronic funds transfer. Additionally, CCR shares the data with several government offices. Registration does not guarantee business with the government.
The PRO-Net database maintained by the SBA has been integrated into the CCR, so small business owners interested in becoming part of PRO-Net must now register in CCR. Like the CCR, PRO-Net becomes the tool that federal agencies and prime contractors use to identify small businesses to engage as subcontractors, in addition to being a tool for marketing your small concern.
Dr. Dave Hale is the CEO of DHI-Communications, an international business coaching and training consultancy, specializing in ecommerce business development and marketing. Dave is widely regarded as one of the top business coaches for Web 2.0 Entrepreneurs. He is the author of The High Performance Entrepreneur: 12 Essential Strategies to Supercharge Your Startup Business. Dave’s work and books have been featured on national television, radio, and print media. To obtain more information on how to make barrels of cash in business and instantly receive my FREE CD and Business Journal go to http://www.DrDaveHaleOnline.com and http://www.buyhiperbusinessmomentum.com
BBC Dragons’ Den Online, David Warr – Language Garden Pt 1
