MSME Registration

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MSME (UDYAM) Registration

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MSME Registration (UDYAM Registration)

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Eligibility Criteria for MSME Udyam Registration Online

The entities that fall under the following three categories can apply for MSME registration.

 

  • Micro Enterprises: Where the investment in plant and machinery is not more than ₹1 crore and the annual turnover is not more than ₹5 crores.
  • Small Enterprises: Where the investment in plant and machinery is not more than ₹10 crores and the annual turnover is not more than ₹50 crores.
  • Medium Enterprises: Where the investment in plant and machinery is not more than ₹50 crores and the annual turnover is not more than ₹250 crores.

Documents Required for Udyam Registration (SSI/ MSME) Certificate

  • Aadhaar card
  • A bank passbook with a picture
  • Election ID card
  • Passport
  • PAN card
  • A driving permit
  • A government-issued ID card for employees (if any)
  • Certificate of caste (for SC, ST, and OBC category)
  • Owner’s name and Aadhar number for the business
  • Name of the business
  • Information about the initial registration procedure for the business
  • Documentation confirming the kind of the business
  • Documents pertaining to the bank account information and mailing address.
  • Code for National Industrial Classification.

Benefits of MSME Registration

The Micro, Small, and Medium Enterprises (MSME) sector is the backbone of the Indian economy. MSME registration is a voluntary process by which small businesses can register themselves with the Ministry of Micro, Small, and Medium Enterprises to avail of various benefits provided by the government. Here are some benefits of MSME registration:

  1. Access to schemes and subsidies: MSMEs registered with the government are eligible for various schemes and subsidies provided by the government, such as the Credit Guarantee Fund Scheme, which provides collateral-free loans, and the Technology and Quality Upgradation Scheme, which provides financial assistance for upgrading technology and quality.

  2. Bank loans at lower interest rates: MSMEs registered with the government are eligible for priority sector lending from banks, which means that they can avail loans at lower interest rates.

  3. Quicker approvals and registrations: MSMEs registered with the government are given priority when it comes to obtaining various licenses and approvals, such as pollution control board, labour department, and industrial safety approvals.

  4. Protection against delayed payments: The government has implemented the Micro, Small and Medium Enterprises Development Act, which ensures that MSMEs are paid for their goods and services on time. If a buyer fails to make payment within 45 days of the delivery of goods or services, the buyer is liable to pay compound interest with monthly rests to the MSME seller.

  5. Concession in electricity bills: MSMEs registered with the government are eligible for a concession in electricity bills, which helps them reduce their operating costs.

  6. Marketing support: MSMEs registered with the government are eligible for various marketing support schemes, such as the Trade Related Entrepreneurship Assistance and Development (TREAD) scheme, which provides financial assistance for participating in trade fairs and exhibitions.

  7. Protection of Intellectual Property: MSMEs registered with the government are eligible for financial support in obtaining patents, trademarks and designs, and also benefit from the priority processing of such applications.

Overall, MSME registration provides various benefits that can help small businesses grow and prosper in the long run.

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StartUp Kro (Previously Legal Thirst) team not only helps me choose the right business strategy but also completes registering my MSME & Start-Up and builds an E-Commerce Web page for my business.

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Nivedita Singh Handloom Business Owner

“Ishani, the founder herself developed DBA Rohtak Website & she is handling all other social media of DBA with such ease. We tried many digital service providers but no one is reliable.”

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President DBA Rohtak

“Being an Entrepreneur I need someone who can guide me from scratch for initiating my Food Start-Up, commencing from registration to build my online presence, they just have everything.”

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Vaidhya Food Business Owner

StartUp Kro (Previously Legal Thirst) team not only helps me choosing right business strategy but there also completes the process registering my MSME & Start-Up and builds a E-Commerce Web-page for my business.

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Ashima Ahuja Start-Up Owner

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