About MSME registration
MSME stands for Micro, Small and Medium Enterprises, it facilitates business development and promotion through various programs and benefits. Small businesses play an important role in improving the economy of any country. To encourage new and existing businesses/enterprises, the Indian government has launched many programs to support the development of small and medium enterprises. To take advantage of all these advantageous programs, you must register your MSME. MSME registration is also known as Udyam registration.
How does MSME registration help my business?
All banks and other financial institutions recognize MSMEs and have created special programs for them. MSMEs have the privilege of benefiting from lower interest rates on business loans.
Government trademark fee easing
– The government has eased the government trademark fee for registered MSMEs. The fee will be ₹4500/- for small businesses, although the trademark fee for non-MSME businesses is ₹9000/-.
Credit Assistance Programs
The Government of India implements a number of programs to provide financial support to MSMEs for their business operations.
Eligibility to Tender
There is a certain quota for MSME-registered entities in awarding government tenders.
No Late Payment
If an MSME has made a sale, the buyer must pay that MSME within 45 days of delivery of the product or service.
Easy Loans in 59 Minutes
The government recently announced that all MSMEs with MSME registration and GST registration will be granted up to ₹5 crore in 59 minutes easily. This scheme has been discussed in detail below
Special support for MSMEs in the context of COVID-19
Due to the COVID-19 crisis, the government has launched the Atmanirbhar Bharat Relief Program. Under this government has given some relief to Indian MSMEs:
₹3 lakh crores Unsecured auto loans will be offered to MSMEs, for a term of 4 years
A $20,000 secondary loan for small and medium businesses.
A capital investment of $50,000 will be made through the MSME “funds of funds”.
Difference between MSME Registration and Udhyam Registration
There is a misconception that MSME registration and Udhyam registration are two different ways of registration. The registration of MSMEs is regulated by the Ministry of Micro, Small and Medium Enterprises to protect the rights of MSMEs and provide them with additional benefits and facilities compared to large enterprises
Later, a better version of MSME registration was launched as Udhyam registration for MSME with different eligibility criteria. 3. In short, the purpose of Udyam registration and MSME registration is the same to develop and promote MSME businesses.
In short, the purpose of Udyam registration and MSME registration is the same to develop and promote MSME businesses.
Documents Required for GST Registration
PAN
Aadhaar Card
Complete postal address with county and PIN
Bank account details
Apply NowGovernment scheme for MSMEs
# Prime Minister's job creation program and other credit support programs
1. Prime Minister's Job Creation Program (PMEGP) : This project is carried out by Khadi and the Village Industry Committee as a focal enterprise at the national level. Anyone over 18 with an 8th standard card can apply.
2. Micro and Small Business Credit Guarantee Trust Fund (CGTMSE) : The program was established in partnership with the Ministry of Micro, Small and Medium Enterprises and the Small Industrial Development Bank (SIDBI) of India. The motive is to establish a credit guarantee for micro and small businesses. Both existing and new entrepreneurs are eligible for this program.
3. Certificate of Eligibility for Interest Support (ISEC) : This ISEC program is an important capital raising mechanism of khadi scheme carried out by khadi institutions and it is basically launched to raise capital from banking institutions. Anyone can apply with a valid khadi certificate.
# Develop Khadi, Village and Coco Industries
1. Science and technology program : The science and technology program is important because its goal is to provide opportunities to encourage scientists, engineers, and field workers. Anyone with a postgraduate degree, M.phil, M.pharma and at least 27 years old can apply.
2. Market Promotion and Development Program (MPDA) : The MPDA plan is launched as a combined plan by merging the different plans implemented by the khadi sector. Anyone can register with a valid khadi certificate.
3. Fund Amendment Plan to Reinvent Traditional Industries (SFURTI) : The main goal of this program is to strengthen traditional businesses to make them competitive and provide support for long-term sustainability. NGOs, central/state institutes or quasi-governmental institutes may apply.
4. Coco Vikas Yojana (CVY): This program visualizes a wide range of activities such as developing the skills of artisans, Mahila coco Yojna, or upgrading new units in the coconut industry.
5. Science and technology (S&T) for coir : The goal of this program is to expand the research and testing service outcomes of laboratories. The board's R&D activities are carried out by the twin institutes. Coir producers/businesses/workers can contact research centers for support.
6. Skill Enhancement and Mahila Coir Yojana (MCY): Upgrading Mahila Yojna coir and skills is one of the key components of the Coir Vikas Yojna program, as it provides training in coir handling and adds value to potential workers. Coir artisans and workers involved in the coir industry can apply.
7. Export Market Promotion (EMP): The coir only board is carrying out export marketing promotion with the aim of increasing the export performance of the Indian coir industry through various export marketing promotions. Coir producers, contractors and exporters can apply.
8. Internal Market Promotion Program (DMP) : During the implementation of the Coir Thread Industry Act 1953, the coir thread council took various measures to popularize coir products, and at the same time develop in the domestic market. Public sector companies, who are franchisees designated by the coir only council in the coir industry can apply.
9. Commercial and industrial related functional support services (TIRFSS) : The basic engine of this service is to collect statistical data related to various points such as productivity, labor infrastructure, raw materials, marketing, etc.
10. Wellbeing Measures (Pradhan Mantri Suraksha Bima Yojana (PMSBY)) : The coir thread council has established a group individual accident insurance scheme for coir only council workers for the benefit of coir thread workers across the country, with the aim of providing Accidental death and permanent disability insurance. Those working in the SFURTI coir cluster, coir workers participating in units registered with the Council can apply to go.
# Technology upgrade and quality certification
1. Financial support for MSMEs under the ZED certification system : The main objective of this program is to promote Zero Defect and Zero Effect practices in manufacturing processes, ensure continuous improvement and support the Make in India initiative.
2. Program to promote innovation, rural industry and entrepreneurship (ASPIRE): The engine of this program is to reduce unemployment rate and create new jobs, promote entrepreneurship culture in India, stimulate local economic development.
3. National Manufacturing Competition Program (NMCP) : This program has been launched by the Indian government to improve the competitiveness of Indian MSMEs. All MSMEs can claim.
4. Capital support associated with technology upgrade credit : CLCSS offers 15% funding for additional investment up to 1 core to upgrade technology using msme. Any MSME can apply.
5. Marketing Support/Support MSMEs (Barcodes) : Under this program, the Department organizes seminars or webinars to encourage MSMEs to use barcodes.
6. Competitive Lean Manufacturing for MSMEs : The main engine of this program is to improve the manufacturing competitiveness of MSMEs through the application of various lean manufacturing techniques and the program is open to all manufacturing MSMEs.
7. Design department specialized in designing for MSMEs :
This program aims to strengthen the competitiveness of MSMEs through the application of its
multiple design and learning. Specialist agencies or MSMEs can partner with design firms. 8. Support
to upgrade technology and quality for MSMEs.
The objective of this program is to promote the use of energy-saving technologies, especially in
manufacturing units, in order to reduce the total cost of production.
9. Business development and SME management through incubators:
This program provides seed capital to nurture innovative business ideas that have the potential to be
commercialized within one year. Anyone or MSMEs with an innovative idea can apply. 10. Enable
competitive production with QMS & QTT.
This program promotes and encourages MSMEs to adopt and understand the latest quality
management standards including quality technology tools.
11. Intellectual Property Rights Awareness (IPR): The purpose of this program is to make MSMEs aware of intellectual property rights, take steps to protect their ideas and business plans.
# Marketing promotion programs
1. International cooperation : The objective of this program is to organize international conferences/summits/workshops at international exhibitions as well as in India for MSMEs conducted by industry associations and government organizations.
2. Marketing Support Program : The Marketing Support Program supports the organization of overseas exhibitions and participation in international trade fairs. Also, organize buyer-seller meetings and marketing promotion activities.
3. Sourcing and Marketing Support Program (P&MS) : The program includes activities aimed at encouraging micro and small businesses to develop in the domestic market and promoting new market access initiatives as well as facilitating marketing or creating partnerships. common perception at trade fairs.
# Skills Development and Entrepreneurship Program
1. Entrepreneurial Skills Development Program (ESDP) : The job of entrepreneurship development programs is to cultivate the talents of young people, explaining to them the different aspects of industrial activity needed to create MSMEs.
2. Support training institutions (ATI) : The objective is to provide support to national training institutes under the Ministry of MSMEs.
3. Sourcing and Marketing Support Program (P&MS) : The program includes activities aimed at encouraging micro and small businesses to develop in the domestic market and promoting new market access initiatives as well as facilitating marketing or creating partnerships. common perception at trade fairs.
# Infrastructure development program
1. Small and micro-enterprise cluster development (MSE-CDP) : The Ministry of Small and Medium Enterprises has adopted a cluster development approach to improve productivity and competitiveness as well as build capacity for MSMEs. The plan also provides financial support for the establishment of joint equipment centers.
Select Your Package
Basic
- MSME Registration
- Dedicated Pro Support
Standard
- MSME Registration
- GST Registration
- Dedicated Pro Support
- Guidance on HSN/SAC Code
- GST Tax Rate List
Premium
- Standard Package
- 3 Months GST Return Filing*