Micro, small and medium enterprise. What are they?
Micro, small and medium enterprise industry are the backbone of the economy in a growing country like india. It is aptly referred to as india growth engine. The micro, small and medium enterprise sector employ 45 per cent of india industrial workforce produce 50 per cent of the country total export and employ 95 per cent of the country total industrial unit, manufacturing over 6000 different commodity. When these industry expand the country economy as a whole expand and thrive. Small scale industry are another name for these enterprise.
We will go over how to get your msme registration online number in india in this article.
You might be wondering if micro, small and medium enterprise registration is required.
Although the micro, small and medium enterprise registration is not yet required by the government it will enable you to take advantage of a number of government benefits including low interest loan and export incentive as well as excise exemption and statutory aid such as reservations and interest on payment delayed due to unavoidable circumstance. Micro, small and medium enterprise have benefited from a government scheme called udyog aadhar registration since 2015.
The micro, small and medium enterprise legislation allow you to register your business whether you are in the manufacturing and service industry.
On 2nd of october, 2006 the micro,small and medium enterprise became functioning. It was created to help micro, small and medium sized enterprise become more competitive by promoting as well as facilitating and developing their competitiveness.
The existing micro, small and medium enterprise classification system was based on criteria such as plant and machinery investment.
As a result of being unable to extend their firms further these lower constraint are reducing the desire to grow.
There has been a long standing need for the micro, small and medium enterprise categorization to be revised so that you can grow your operations while still receiving micro, small and medium enterprise benefit.
The government updated the micro, small and medium enterprise classification under the atma nirbhar bharat abhiyan by incorporating composite criteria for both investment and yearly turnover.
Under the micro, small and medium enterprise definition the distinction between manufacturing and service has been abolished. As a result of this removal the sector will be brought closer together. The following is the updated micro, small and medium enterprise categorization which takes into account both investment and yearly turnover when determining an micro, small and medium enterprise .
How do i become an micro, small and medium enterprise?
Micro, small and medium enterprise registration and verification can be applied for online.
To apply to become an micro, small and medium enterprise click here and fill out the application form.
An micro, small and medium enterprise certificate with a lifetime validity can be obtained in 2 to 5 working day for enterprise in both the manufacturing and service sector. There are no restrictions on the name you select to register new as well as existing enterprise.
Procedure for micro, small and medium enterprise registration.
To register a small and medium sized business you must complete out a single form which you can accomplish online as well as offline.
Individual registration is available if you want to register for more than one industry.
Your personal aadhar number as well as industry name and address as well as bank account details and some extra information are required for registration.
You have the option of providing self certified certification.
This technique does not require any registration fee.
After the documents have been created and submitted to the micro, small and medium enterprise registrar the specialist will review them. This operation takes two days to complete.
Your company will be registered and relevant documentation will be given to you once your micro, small and medium enterprise application is approved.
What can we do to help you with micro, small and medium enterprise registration?
As your micro, small and medium enterprise registration consultant in bangalore we will assist your company in obtaining micro, small and medium enterprise registration so that you may take advantage of the benefits. We can help you register for micro, small and medium enterprise in your city.
All you have to do is fill out our short form which will ask you for some basic information. It will be needed when you submit your application to the department.
Also read udyog aadhaar print.
We willl draught your documentation based on the information you have given us. It will take about 1 to 2 business days.
We will submit your application to the micro, small and medium enterprise registrar along with the appropriate documentation. Our expert will double check all of your document before submitting them.
Once your application has been granted we will give you your micro, small and medium enterprise certificate by email and courier.