Introduction to MSMEs
In the past few years, there is rapid growth in an entrepreneurial culture. Indian government helps to enhance the growth of small, micro, and medium enterprises by initiating few schemes, offers, and subsidies to increase the participation of more youths in the business sector. These schemes are eligible to avail tax benefits, concession in electricity, and subsidy on patent registration, local schemes, and other subsidies. Reserve bank of India also gives loans to MSMEs and entrepreneurs at a concessional rate and helps them in their business growth.
Ministry of MSMEs concluded that MSME and SME sector gives almost 70% of Indian GDP. This includes businesses like the agriculture sector, manufacturing, food, and beverages, automotive raw materials, business, and retail sector. To avail of these benefits, this business company needs to be registered under the MSME sector for the growth of business and also make it easier for the governments.
MSME Registration Overview
The government of India launched the MSME act to support the MSME through various schemes, subsidies, and yearly incentives. MSME registration stands for Micro, Small, and Medium Enterprise Registration, any company that comes under MSME categories needs to ensure they are registered under the MSME categories. With MSME registration, banks also provide loans at a lower rate of interest.
Online Process for MSME/ Udyam Registration
The registration required personal details, and details about the business, and so on. Aadhar card is a must for Udyam / MSME Registration, an application is to be filled online on Udyam / MSME Registration.
Documents required for registration Process
- Aadhar Number Required for Udyam Registration
- Aadhar number shall be of the –
- Proprietor in case of proprietorship firm
- Managing Partner for in case of partnership firm
- Karta in case of Hindu undivided Family (HUF)
- Name, Gender, Pan Number, Email Id, and Mobile number of the applicant.
- Pan Location and Address of Organization.
- Number of Employees and date to start your business
- Bank account number and IFSC code
- Basic business Idea of the enterprises
- No enterprise shall file more than one Udyam / MSME Registration
- Whoever intentionally misrepresents or attempts to suppress the self-declared facts and figures appearing in the registration or updating process shall be liable to a penalty.
Registration Process Step by Step
- Start registration process – Register your Business here
- Fill Application Form – fill in the necessary business details such as company name, registration number, GST number, and so on.
- Enter Personal Details and submit the form
- Executive will process application – the submitted form will be review by our executive and you will be notified if there any changes or documents required
- Receive a certificate of mail – after completing the form, you will get a certificate for MSME registration. You can download a sample copy of MSME certificates. Ministry of MSME will not issue any hard copy for it. Only gets a virtual certificate.
Registering a business under MSME Registration has certain MSME Benefits such as bank loans (collateral free), subsidy on patent registration, overdraft interest rate exemption, MSME Samadhan: protection against payments (delay payments), fewer electricity bills, and so on…
Company Name: MSME / Udyam Registration Consultancy
Contact Person: Vishal Satpute
Email: Send Email
Address:Office No. 101-102, 1st Floor, Gulmohar Apartments, East Street, Camp
City: Pune – 411001