MSME stands for Micro, Small and Medium Enterprises. Enterprises falling under these three categories serves as the backbone of any economy and works as a transformer in economic growth and development of Country. The goal of establishing Udyam Registration now renamed as MSME registration was to make the process of incorporating a firm under the Micro Small Medium Enterprise (MSME) category easier for new and old business owners. Prior to the establishment of MSME Udyam Registration, the procedure for doing so was a time-consuming bureaucratic process that required the management of a large number of papers. Things have altered and, to some extent, improved for medium, small, and micro-enterprises since the introduction of Udyam Registration.
The primary goal of launching this facility was to provide a means for the government to provide the maximum benefits to medium or small-scale businesses or industries in India that are registered through MSME using their Aadhar Card Number.
Therefore, in order to promote and support Micro, small and medium scale enterprises, the Government of India passed MSMED Act to provide various subsidies, schemes and incentives. So, to avail the benefits from Central or State Government and the Banking Sector, MSME Registration is required under the MSMED Act.
Both the service and manufacturing sector can obtain Udyam Registration under the MSMED Act. MSME registration is not compulsory or statutory , but, it is beneficial for small businesses to register themselves under MSME Act to avail a range of benefits such as eligibility for lower rates of interest, tax subsidies, capital investment subsidies, power tariff subsidies, and other support. We can help you in obtaining Udyam Registration @Rs.799/- (all inclusive).
After registering a business and getting MSME Udyam Registration Online, one will be able to take advantage of a number of benefits. The greatest part about acquiring Udyam Registration is that it’s a simple procedure which does not involve any documentation.
The advantages of MSME Udyam Registration Certificate are as follows:
The MSME registration process is entirely online, paperless, and self-declarative. The following documents are required for a successful Udyam Registration online:
