We make it easy to file for MSME Registration with the Ministry of Micro, Small & Medium Enterprises (MSME). Avail exclusive incentives, benefits, and concessions as a registered MSME. Get your MSME Certificate or Udyam Certificate in just 1 hour!
MSME Registration is a government-initiated process that offers recognition and support to Micro, Small, and Medium Enterprises. It officially acknowledges the existence of a business and categorizes it based on its size and investment. By registering as an MSME, businesses can access various government benefits, schemes, and incentives aimed at fostering growth and ensuring sustainability.
Registered MSMEs can avail themselves of various government schemes and financial assistance programs. These include access to capital, credit facilities, subsidies, and grants that help businesses overcome financial challenges and grow their operations.
MSME registration offers legal protection, safeguarding the interests of small businesses. It enables them to enforce their rights, resolve disputes, and seek redressal in case of any issues or grievances.
MSMEs with official registration can access government tenders and contracts, many of which offer reservations for small businesses. This opens up opportunities to secure government projects, boosting their growth prospects and expanding their market presence.
To qualify for MSME registration, a business must meet specific criteria related to investment, turnover, and operational scale. Below are the classification details:
One of the most significant benefits of MSME registration is access to credit at lower interest rates. Banks and financial institutions are more likely to lend to registered MSMEs because they are considered more creditworthy. This makes it easier for MSMEs to obtain the funding they need to grow and expand their businesses.
MSME registration makes businesses eligible for a range of government subsidies and schemes. These include subsidies for technology upgradation, marketing assistance, and support for research and development. Registered MSMEs are also eligible for various schemes such as the Credit Guarantee Fund Scheme for Micro and Small Enterprises, which provides collateral-free credit to MSMEs.
MSME registration provides protection against delayed payments from customers. The government has set up a framework for the settlement of disputes related to delayed payments, which ensures that MSMEs receive their payments on time. This is particularly important for smaller businesses that may not have the resources to pursue legal action to recover their dues.
Registered MSMEs are eligible for income tax exemptions under various provisions of the Income Tax Act. This can result in significant savings for businesses, particularly in the early stages of their development when every penny counts.
MSME registration makes it easier for businesses to resolve disputes related to payments, contracts, and other issues. The government has set up various bodies to resolve disputes related to MSMEs, including the Micro and Small Enterprises Facilitation Councils and the National Company Law Tribunal. These bodies are designed to provide quicker and more efficient resolution of disputes, saving businesses time and money.
MSME registration provides businesses with a lower cost of obtaining patents. Registered MSMEs are eligible for a 50% subsidy on patent & Trademark registration fees. This can make it easier and more affordable for businesses to protect their intellectual property, which is particularly important for businesses operating in technology and innovation-driven sectors.
Registered MSMEs are eligible to participate in various government tenders and contracts. The government sets aside a certain percentage of tenders and contracts for MSMEs, which gives them a greater chance of winning these contracts. This can be an important source of revenue for MSMEs, particularly in sectors such as manufacturing and infrastructure development.
In conclusion, MSME registration provides businesses with a range of benefits that can help them grow and thrive. By registering, businesses can access credit at lower interest rates, enjoy tax exemptions, and gain access to various government schemes and tenders. With the Indian government’s continued focus on supporting SMEs, MSME registration is an important step for businesses looking to take advantage of these benefits.
MSME is Initiative from Govt of India to Promote Startup. Order Online to avail various benefit of MSMSE. Once you will Order our team will call you for further processing.
Any individual willing to start a micro, small or medium sized enterprise can register as an MSME by providing true personal information like Aadhar number, PAN number, industry name, contact details and bank account details.
The following entities can apply for MSME registration:
The eligibility criteria for MSME or Udyam registration in India are as follows:
As a registered MSME, you are eligible to get collateral free loans from banks as well as NBFCs.
With a good credit history and a CIBIL score of at least 650, one can get collateral free loans from banks. If your credit score is not up to the mark, you can consider approaching NBFCs for loans, although they would charge a higher rate of interest.
All financial institutions, including the major banks recognise MSMEs and have devised special schemes for them. MSMEs and SSIs are earmarked for priority sector lending. This increases the likelihood of you being granted a loan considerably. Major Indian Banks also provide loans to MSMEs at lower interest rates. You may also expect to get preferential treatment in case of any future delay in repayment.
There are many benefits to MSME or Udyam registration in India. Here are some of the key benefits:
Udyog Aadhar is a government initiative to help medium and small sized businesses with access to various government programs upon registration.
Whereas MSME registration promotes various schemes, subsidies and other benefits to micro, small and medium sized enterprises.
Proprietorships, Hindu Undivided Family, Partnership Firm, One Person Company, Limited Liability Partnership, Private Limited Company, Limited Company, Producer Company, any association of persons, co-operative societies or any other undertaking can obtain MSME registration in India.
MSME certificate is valid till the time the enterprise is operational.
Micro, Small and Medium sized enterprises in both the Manufacturing and Service sector can obtain MSME registration or SSI registration under the MSMED Act. Although getting MSME registration is not mandatory but it is always suggested to small and medium enterprises to get it done as it provides a variety of benefits.
How long does it take to get the Udyam Certificate? Ans. We provide Udyam Certificate in 1-2 working hours. We have a team of Professional consultants who will process your application as soon as possible.
Yes Udyam and MSME both are the same. Udyam Registration is the new process of MSME/UDYOG AADHAAR Registration launched by the Ministry of Micro, Small and Medium Enterprises effective from July 1, 2020. This will now be known as Udyam, according to a notification published on 26 June 2020 by the Ministry of Micro Small and Medium Enterprises (MSME)
As per Notification dated June 26, 2020, Udyam Registration Number is a permanent identity number and there will be no need for renewal of Registration.
In the interest of environment no physical copy of MSME Certificate will be issued. Government believes in paperless work.
MSME registration is valid for a lifetime unless the business exceeds the investment and turnover limits set for the category they registered under.
As per Notification dated June 26, 2020, no enterprise shall have more than one Udyam Registration Number, if an Enterprise is involving in both manufacturing and service, then both the activities will be clubbed in one Udyam Registration.
No, MSME registration is optional for businesses in India. However, it is recommended for businesses looking to avail of the benefits provided by the government.
The Udyam Registration portal is a government portal through which businesses can register themselves for MSME registration.
