MSME is an acronym for Micro, Small & Medium Enterprises which had a long process of Udyog Aadhar for Registration which has been changed into Udyam Registration, launched on July 1st 2020 to replace that long process of Udyog Aadhar.
Udyam Registration is the means for micro, small and medium enterprises to connect themselves with the government via an official registration process. Through this Registration, such type of enterprises gets a certification and Unique Identification Number (UIN). This Udyam Registration is the latest Initiative which is very beneficial for entrepreneurs dealing in small businesses.
In order to contribute to the digitalization of India, the Udyam Registration is an improvised and latest tech system introduced by the Ministry of MSME to add to the growth of MSME and support all micro, small & medium businesses in India.
This Udyam registration also widely Known as MSME Registration includes a Recognition Certificate and a Unique Identification Number. Also, it is Optional if you want to specify whether your business is legal and operational.
Generally, it takes around 1 to 2 weeks to generate Udyam Certificate after Udyam Registration Number has been generated.
Enterprises must be meeting certain eligibility Criteria to apply for Udyam Registration:
Applicants must apply for Registration through an Online medium on the Udyam Registration Portal. After the Registration has been made, a Unique Identification Number and E-certificate is to be issued. Respectively, they are known as Udyam registration Number and Udyam Registration Certificate.
Furthermore, such enterprises must meet fixed criteria in order for them to be classified as either the micro, small or medium enterprises for acquiring the MSME Registration.
Every MSME may proceed to register their enterprise with the Government and apply through the easiest way via the online portal provided by the Ministry Officially. The enterprises would be able to avail of various benefits granted by the Ministry of MSME very often.
Some of the benefits are specified below:
In addition to these, there are many more privileges.
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