MSME online Registration

MSME Online REGISTRATIONMSME RegistrationMSME stands for MICRO, SMALL & MEDIUM ENTERPRISES. MSMEs are the backbone of the economy especially in developing countries like India.

Microenterprise - enterprises where investment in plant and machinery is not more than 25 lakhs.

Small enterprise - enterprises where investment in plant and machinery is between 25lakhs to 5 crores.

Medium enterprises are those enterprises where investment in plant and machinery is involving 5 crores to 10 lakh.

MSME is also known as small scale industries these are the growing enterprises which also majorly contribute to the economic growth of the country.

MSME Registration is not mandatory for any enterprise/organization or company. However it's on the discretion of the owner whether to get his organization registered under MSME or not. However, the government has provided certain benefits to those organizations that opt for MSME Registration like – benefits in terms of taxation; easy credit facilities; low-interest rates on overdrafts; Concession in electricity bills; industrial promotion subsidies; participation in international trade fairs; etc.

MSME registration process and requirements

The government of India has provided a web portal for easy registration of MSMEs. THE UDYOG AADHAR PORTAL is the webpage where one can register their MSME by mentioning their Aadhaar details and verifying the aadhar OTP.

The basic requirements for MSME Registration are as below:

  • Aadhaar of the applicant.
  • Type of Enterprise and its details.
  • Pan Card of the applicant/ in case of a company or Partnership firm pan card of Company or firm respectively.
  • Bank account details of the applicant/ in case of company or Partnership firm Bank account details of Company or firm respectively.
  • Location of the organization or enterprise.
  • Details with regard to that of business and its objectives.
  • A total number of employees employed in such an organization or enterprise.
  • Total investment in plant and machinery and equipment are done by such an Organization or enterprise.

MSME Online Registration

The main motive or purpose of MSME registration is to encourage entrepreneurship amongst the newly constituted enterprises and aid them by providing certain benefits so that they can flourish their business and contribute to the economic growth of the country at a large scale.

However, to provide certain benefits to the MSME units the Government of India and RBI do launch certain schemes to support MSME units. Some of the Schemes are as below: Restructuring of debt Scheme, Credit linked capital subsidy scheme for technology up-gradation, Scheme of Microfinance programme, Proposal on (TREAD) for women, Credit assurance scheme, Small Industry cluster development programme, integrated infrastructural development scheme. 

Therefore, MSME registration is a simple and basic process through which small and medium enterprises can register themselves for the purpose of certain aids from the Government.

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02 Apr

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