What is MSME Registration?
Let us first understand what MSME is. MSME means Micro Small & Medium Enterprises. The Micro Small and Medium Enterprises Development Act (MSMED) was enacted by the government in the year 2006, to promote small businesses. Any small or medium business must register itself for the issue of Udyog Aadhar. Once registered it will be valid forever and can be obtained by enterprises that are already active
The category is based on the “Investment in Equipment / Plant & Machinery & Annual Turnover”.
- Micro: The investment of not more than Rs. 1 crore and Annual Turnover is not more than Rs. 5 crores.
- Small: Investment of not more than Rs. 10 crores and Annual Turnover is not more than Rs. 50 crores.
- Medium: Investment of not more than Rs. 50 crores and Annual Turnover is not more than Rs. 250 crores.
MSME consultants will help you if you want some help in completing the MSME registration process. You can choose between the offline or online registration of MSME.
Benefits of MSME Registration
The MSME registration will help various small-scale enterprises to avail of some distinct benefits. Some of them are listed below:
- Credit is easily accessible: The GOI introduces a new trust named The Credit Guarantee Trust Fund Scheme along with SIDBI and the Ministry of MSME to help out the small businesses with some easy collateral-free loans.
- Subsidized Patent Registration: A subsidy of 50%, which is a hefty amount, is given to enterprises that have the MSME registration It can be availed by writing an application to the ministry in charge against your registered patent.
- Protection against delayed payments: The Ministry of MSME lends a helping hand to small enterprises who have an MSME registration certificate, by providing them with the right to collect interest from the delayed payments from the buyers of goods and services from the MSME. These disputes must be settled as fast as possible, and if the buyer does not make the payment in the first 45 days after the purchase of the products then he will have to pay a compound interest along with the monthly interest on the agreed amount.
- Relief of Interest Rate on Overdraft: This scheme differs from bank to bank, and businesses that have an MSME registration certificate can avail a 1% benefit on OverDraft.
- Electricity bills are minimal: If an MSME registered business writes an application to the department of electricity and provides them with a valid certificate of registration by MSME, then it will enjoy some concessions in their electricity bills.
- Reimbursement of the cost of ISO certification: The MSME registered businesses are allowed to claim the reimbursement of the expenses which were spent for the ISO certification.
- Eligibility for subsidy in Industrial Promotion: The government suggests that MSME registered enterprises are eligible for subsidized Industrial Promotion.
How B n Corporates will help you to register an MSME?
B n Corporates is a Gst & Tax consultancy agency based in Rohini, Delhi. They deal in Accounts, GST and also work as MSME Registration consultancy Agency. They will provide you with both on-site and off-site services which are sure to satisfy all your needs.
The MSME registration online process can be a bit tricky for some users. The businesses which want to avail the benefits of being an MSME will have to register on the ‘Udyog Aadhaar Memorandum’ (UAM). In order to save you some time and do it properly, you can take the help of B n Corporates and do it correctly.
The Online Registration of MSME is a long and time-consuming process for someone to do all by himself. You can easily take the help of B n Corporates and their experienced employees will help you complete the registration within the shortest amount of time possible.
MSME registration process can be done through various offline processes too. B n Corporates will help you if you have some doubts about anything.
The B n Corporates MSME consultants can help you both, in the MSME registration online or offline process.
MSME registration in Delhi
The MSME registration in Delhi process is the same for the people living in Delhi as the rest of the country. You can easily complete the MSME registration process, online or offline, as you can easily access the offices which shall validate your needs.
You can easily go to one of the frontrunners in this field in Delhi, B n Corporates, to help you out in this regard. They have a solid background in Finance and have a lot of experience in this field. B n Corporates is based in Rohini, Delhi. They have till date, completed 578 projects and have received 26 awards, which shows their level of expertise and dedication in the financial market. So, you won’t make a bad decision if you choose B n Corporates as your financial guide. Last but definitely not the least, the pricing is very much reasonable which makes it an even better option to choose.