MSME Registration is an online process that allows businesses to officially register under the Micro, Small, and Medium Enterprises (MSME) sector, also commonly called Small and Medium Enterprises (SMEs). In India, the MSME sector is crucial in strengthening the economy and is often regarded as its backbone.
This sector accounts for nearly 45% of employment, 95% of industrial units, and 50% of India’s total exports. With over 5,000 different types of products manufactured, MSMEs make a significant contribution to the country’s industrial growth and economic development.
MSME stands for Micro, Small, and Medium Enterprises. It is a structure introduced by the Government of India to support and strengthen small businesses by offering access to various government schemes and benefits. This initiative is regulated under the Micro, Small, and Medium Enterprises Development (MSMED) Act, 2006.
MSMEs are considered the backbone of the Indian economy due to their vital role in job creation, industrial production, and exports. Through MSME registration, the government aims to ensure these businesses receive the necessary support to grow and contribute more effectively to the nation’s development.
Old Definition |
---|
Enterprise | Investment in plant and machinery or equipment | Turnover |
---|---|---|
Micro Enterprise | Not more than INR 1 Crore | Not more than INR 5 Crore |
Small Enterprise | Not more than INR 10 Crore | Not more than INR 50 Crore |
Medium Enterprise | Not more than INR 50 Crore | Not more than INR 250 Crore |
Revised Definition |
---|
Enterprise | Investment in plant and machinery or equipment | Turnover |
---|---|---|
Micro Enterprise | Up to ₹2.5 crore | Up to ₹10 crore |
Small Enterprise | Up to ₹25 crore | Up to ₹100 crore |
Medium Enterprise | Up to ₹125 crore | Up to ₹500 crore |
An MSME Registration Certificate is an official document you receive after completing your MSME registration. This certificate serves as proof that your business is registered under the MSME framework. It contains important details about your business, such as the name of the entity, the date of incorporation and commencement, and a unique MSME registration number.
Businesses registered under MSME enjoy several advantages offered by the Ministry of MSME. Some key benefits include
Registering under MSME is simple and quick if you follow these steps:
As per the government notification dated 26th June 2020, all existing businesses that were previously registered under MSME using Udyog Aadhaar must switch to the new Udyam Registration system.
If you don’t convert your registration, your old MSME registration will no longer be valid, and you will have to apply for a fresh MSME registration.
To update your business under the new system, simply visit our Udyam Re-Registration page and complete the process quickly and securely.
To apply for an MSME loan, you must first obtain your MSME Certificate and a printout of your Udyam Registration application. Take these documents to your bank and inform the bank official that you want to apply under the MSME Loan Scheme.
Note: Interest rates for MSME loans may differ from one bank to another, depending on their policies and your business profile.
Udyamregistrar is the official website of a private consulting firm that has been assisting businesses with MSME registration for over 10 years. Our experienced processing team is highly skilled in handling all types of MSME registration services.
We offer a single-window, hassle-free registration experience through our secure online portal, ensuring quick and smooth processing for our clients. If you have any questions or need support with MSME registration, feel free to get in touch with us. Our team is always ready to assist you promptly.
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