Micro, Small and Medium Enterprises (MSMEs) play a crucial role in the Indian economy. They are the backbone of the industrial sector, providing employment opportunities and contributing significantly to the country’s GDP. The government of India has taken several measures to support MSMEs, including the introduction of the MSME Udyam Aadhar Registration scheme. In this article, we will discuss Udyam Registration Online and how it benefits MSMEs in India.
What is Udyam Aadhar Registration?
MSME Udyam Aadhar Registration is an online registration process for MSMEs in India. It is a unique identification number provided by the Ministry of Micro, Small and Medium Enterprises (MSME) to eligible enterprises. The Udyam Aadhar Registration replaced the earlier system of MSME registration, which was based on investment in plant and machinery or equipment.
Benefits of Udyam Aadhar Registration
Easy Registration Process
MSME Udyam Aadhar Registration is an online process that is easy and convenient for MSMEs. The registration process requires minimal documentation, and the registration certificate is issued immediately after successful completion of the process.
Access to Government Schemes
MSMEs registered under Udyam Aadhar can avail of several government schemes and incentives, such as credit facilities, subsidies, and tax exemptions. The registration certificate also enables MSMEs to participate in government tenders.
Protection under MSME Act
MSMEs registered under Udyam Aadhar are protected under the MSME Act, 2006. The Act provides several benefits to MSMEs, such as easier access to credit, timely payments from buyers, and protection against delayed payments.
Priority Sector Lending
MSMEs registered under Udyam Aadhar are considered a priority sector for lending by banks and financial institutions. This means that they can avail of loans at lower interest rates and with more flexible repayment terms.
MSME Udyam Aadhar Registration provides international recognition to MSMEs. It enables them to participate in international trade fairs and exhibitions and promotes their products and services in global markets.
MSME Udyam Aadhar Registration is an important initiative by the government of India to support MSMEs. But how do you get Udyam Registration Online?
Udyam Registration Online process
Udyam Registration Online is a new initiative launched by the Government of India to simplify the registration process for Micro, Small, and Medium Enterprises (MSMEs). The registration process is entirely online, which makes it convenient and hassle-free for business owners. In this article, we will discuss the step-by-step process of Udyam Registration Online.
Step-by-Step Guide to Udyam Registration Online
- Visit the Udyam Registration Portal: Firstly, visit the official Udyam website for MSME Udyam registration. After that, click on the “New Registration” button to proceed.
- Enter the Aadhaar Number: Next, enter your 12-digit Aadhaar number. It is mandatory for Indian citizens to have an Aadhaar card to register their business. If you are not an Indian citizen, then you can use your passport number to complete the registration process.
- Enter Business Details: After entering your Aadhaar number, you will need to provide your business details. This includes your business name, type of organization, PAN number, and other relevant information.
- Provide Additional Information: In this step, you need to provide additional information such as the number of employees, the location of the business, and the activities carried out by the business.
- Verification of Details: Once you have provided all the necessary details, you will need to verify them by clicking on the “Validate and Generate OTP” button. You will receive an OTP on your registered mobile number or email address. Enter the OTP to verify the details provided.
- Submit the Application: After completing the verification process, you can submit your application by clicking on the “Final Submit” button. You will receive a unique Udyam Registration Number (URN) once your application is approved.
- Download Registration Certificate: After the application is approved, you can download the registration certificate from the Udyam Registration portal. The certificate contains your Udyam Registration Number and other relevant information.
Udyam Registration Online Process is a game-changer for MSMEs in India. It is simple and hassle-free to register your MSME business. Registration is free of cost, and you can take advantage of various government schemes and incentives once your business is registered under Udyam Registration. So, if you are a small business owner, it’s time to take advantage of this initiative and register your business online today. It is always advisable to let experts take care of such registration processes. If you’re a business owner, then get in touch with our experts now!