Micro , small, medium enterprises are small scale industries (SSI) industries that promote employment to a number of people across india. The growth of these industries benefits the economic growth of the country, thereby forming the back bone of country’s economy.
Udyam registration by Micro small and medium enterprises helps them obtain various schemes and benefits provided by the government. By making use of these schemes, the micro small and medium enterprises sectors can enjoy a subsidised running of their firm whilst facing competition with other firms.
Uses of udyam registration
Micro small and medium enterprises registration allows bank loans to become comparatively cheaper as there is decrease in interest rate up to 1.5 per cent lower than regular loans.
A business owner can be completely exempted from direct tax laws
Registration also benefits in obtaining a patent or setting up an industry at a reduced cost. This is achieved through the available rebates and concession.
There is a huge concessions on electricity bills for Micro small and medium enterprises sector.
Government tenders are issued with ease as the udyam registration portal is integrated with government e marketplace which gives easy access to their market place and e tenders.
When a micro small medium enterprises takes part in foreign expos or trade fairs, it receives financial assistance and various benefits from the government.
There is One time settlement fee for non paid amounts of Micro small medium enterprises.
Udyam micro small medium enterprises is totally paper-less based work through an online self disclosure process which is much better than going to office and registering.
Lokesh Rawat, From Madhya Pradesh
Recently applied MSME Certificate