MSME Registration

MSME, which stands for Micro, Small, and Medium Enterprises serves as a cornerstone for economic growth by fostering the development and advancement of businesses through a range of incentives and support programs. These small-scale enterprises play a vital role in bolstering the economy of a nation. In a bid to promote both budding and established ventures, the Indian government has initiated several initiatives tailored to assist small and medium-sized enterprises in their expansion endeavors. To avail oneself of these advantageous schemes, securing MSME registration, also referred to as Udyam registration, is imperative.

o   When to Register under MSME?

To tap into the benefits offered by both the Central and State Governments as well as the banking sector, obtaining MSME registration is essential. This registration serves as a gateway to accessing a range of incentives and support programs tailored for micro, small, and medium enterprises.

o   Eligibility Criteria For MSME Registration :-

1.       Micro MSME Enterprises: These are businesses with investments below INR 1 crore and annual turnovers under INR 5 crores.

2.       Small MSME Enterprises: These enterprises have investments below INR 10 crores and annual turnovers less than INR 50 crores.

3.       Medium MSME Enterprises: This category encompasses businesses with investments below INR 20 crores and annual turnovers not exceeding INR 200 crores.

o   Difference between MSME Registration & Udhyam Registration.

There's a common misconception that MSME registration and Udhyam Registration are separate processes. However, both serve the same fundamental purpose: to provide official recognition and support to Micro, Small, and Medium Enterprises (MSMEs). Initially, MSME Registration, overseen by the Ministry of Micro, Small and Medium Enterprises, aimed to safeguard MSME rights and offer additional benefits compared to larger enterprises. Subsequently, Udhyam Registration emerged as an improved version with revised eligibility criteria. In essence, whether through MSME or Udhyam Registration, the goal remains consistent: fostering the development and advancement of MSME enterprises.

o   How MSME Registration Benift My Business ?

Æ Favorable Interest Rates: Banks and financial institutions offer specially tailored schemes for MSMEs, providing them with the advantage of lower interest rates on business loans

Æ  Reduced Trademark Fees: MSME-registered entities benefit from a reduced government fee for trademark registration, paying only INR 4500 instead of the standard fee of INR 9000 applicable to non-MSME enterprises.

Æ  Financial Assistance Programs: The Indian government administers various schemes aimed at providing financial support to MSMEs for their business endeavors.

Æ  Tender Priority: MSME-registered entities enjoy a reserved quota in government tender allocations, enhancing their eligibility for securing contracts.

Æ  Prompt Payment Guarantee: Buyers are required to settle payments to MSME entities within 45 days from the date of product or service delivery, ensuring timely revenue flow.

Æ  Quick Loan Processing: MSMEs with both MSME and GST registration can access easy loans of up to 5 crores within 59 minutes under a recent government initiative aimed at streamlining loan approvals.

o   Process for MSME Registration  :-

·     Provide the Necessary Documents and Information via Email.

·     Select a Package and Make Online Payment using various available payment methods.

·     Once you've placed your order, our team assigns your task to a dedicated professional.

·     Our professional verifies if your Aadhaar card is linked to an active mobile number.

·     If your Aadhaar card and mobile number are linked, we proceed to submit your application.

·     Upon successful submission, we deliver your MSME Certificate via email.

 

o   Required Documents for MSME Registration:-

Æ  Details of  Bank Account.

Æ  Pan Card.

Æ  Full postal address including the district and PIN code.

Æ  Aadhar Card.

o   MSME – Government Schemes :-

Numerous state and central government schemes offer benefits to MSMEs, including access to credits, pre-approved loans, and subsidies.

Prime Minister Employment Generation Programme and Credit Support Schemes

1. Prime Minister Employment Generation Programme (PMEGP)
• Managed by the Khadi and Village Industries Commission.
• Open to individuals above 18 years with an 8th-grade education.
2. Credit Guarantee Trust Fund for Micro & Small Enterprises (CGTMSE)
• Jointly run by the Ministry of MSME and SIDBI.
• Provides credit guarantees to both existing and new entrepreneurs.
3. Interest Subsidy Eligibility Certificate (ISEC)
• Facilitates funding through khadi institutions.
• Available to holders of valid khadi certificates.

 

Development of Khadi, Village and Coir Industries

1. Science and Technology Scheme
• Encourages scientists and engineers through opportunities in the khadi sector.
2. Market Promotion & Development Scheme (MPDA)
• Consolidates various khadi schemes, open to certificate holders.
3. Revamped Scheme Of Fund for Regeneration Of Traditional Industries (SFURTI)
• Aids traditional enterprises to enhance competitiveness.
4. Coir Vikas Yojana (CVY)
• Promotes skill development and industry upgrading.
5. Science and Technology (S&T) for Coir
• Supports research and development in coir industry.
6. Skill Upgradation & Mahila Coir Yojana (MCY)
• Enhances skills and adds value to coir products.
7. Export Market Promotion (EMP)
• Boosts coir sector exports through promotional activities.
8. Domestic Market Promotion Scheme (DMP)
• Popularizes coir products in the domestic market.
9. Trade and Industry Related Functional Support Services (TIRFSS)
• Collects data for MSME productivity and infrastructure.
10. Welfare Measures (PMSBY)
• Provides insurance coverage to coir workers.

Technology Upgradation and Quality Certification

1. Financial Support to MSMEs in ZED Certification Scheme
• Promotes Zero Defect & Zero Effect practices.
2. A Scheme for Promoting Innovation, Rural Industry & Entrepreneurship (ASPIRE)
• Fosters entrepreneurship and rural industries.
3. National Manufacturing Competitiveness Programme (NMCP)
• Enhances competitiveness of MSME units.
4. Credit Linked Capital Subsidy for Technology Upgradation (CLCSS)
• Offers subsidy for technology upgrades in MSMEs.
5. Marketing Support/Assistance to MSMEs (Bar Code)
• Promotes barcode adoption among MSMEs.
6. Lean Manufacturing Competitiveness for MSMEs
• Implements lean manufacturing techniques.
7. Design Clinic for Design Expertise to MSMEs
• Enhances MSME competitiveness through design.
8. Technology and Quality Upgradation Support to MSMEs
• Promotes energy-efficient technologies in manufacturing.
9. Entrepreneurial and Managerial Development of SMEs through Incubators
• Supports innovative business ideas in MSMEs.
10. Enabling Manufacturing Sector to be Competitive through QMS&QTT
• Promotes quality management standards in MSMEs.
11. Building Awareness on Intellectual Property Rights (IPR)
• Educates MSMEs on intellectual property protection.

 

Marketing Promotion Schemes

1. International Cooperation
• Facilitates international exposure for MSMEs.
2. Marketing Assistance Scheme
• Supports participation in international trade fairs.
3. Procurement and Marketing Support Scheme (P&MS)
• Develops domestic markets and facilitates trade fair participation.

Entrepreneurship and Skill Development Programme

1. Entrepreneurship Skill Development Programme (ESDP)
• Nurtures entrepreneurial skills among youth.
2. Assistance to Training Institutions (ATI)
• Supports national-level training institutes under MSME.

Infrastructure Development Programme

1. Micro & Small Enterprises Cluster Development (MSE-CDP)
• Enhances productivity and competitiveness through cluster development.

These initiatives aim to empower MSMEs by providing financial, technical, and promotional support across various sectors and regions.

 

Scheme of studies , surveys and policy research

Updated guidelines for the Surveys, Studies, and Policy Research Scheme (SS&PR) will be effective from October 15, 2018. The Scheme of Surveys, Studies, and Policy Research can be understood as a structured initiative aimed at conducting research, gathering data, and analyzing policies to inform decision-making and improve governance.

National SC –ST –HUB

The National SC-ST Hub is a government initiative focused on fostering and supporting businesses owned by entrepreneurs from Scheduled Castes (SC) and Scheduled Tribes (ST) communities.

Scheme of Education, Information and Communication

The Scheme of Information, Education, and Communication (IEC) refers to a program designed to disseminate information, educate the public, and promote awareness on specific topics or issues through various communication channels and educational activities. Top of Form