MSME Registration Online

Overview of the MSME Registration procedure in India:

MSME stands for Micro, Small and Medium Enterprises and is of two types according to the MSME Development Act of 2006. The two types are – Manufacturing industries that produce goods and Service Enterprises that provide services. These enterprises must register as MSMEs to avail of the benefits granted under various government schemes. MSME is a significant chunk of the nation’s economy. Thus, the government takes the initiative to grow these sectors, ultimately adding to our GDP.

Advantages of registering an MSME :

Here are the benefits of registering as an MSME in India:-

• It is effortless to borrow loans in India for MSMEs. This is not all; these loans’ interest rates are as low as 1-1.5%.
• Setting up an MSME is inexpensive as many reimbursements and discounts are offered to such companies.
• Registered MSMEs are preferred by the government when issuing licenses for other documents
• There’s just one time MSME fees are charged to settle the unpaid amount.

What are the documents required when registering your MSME?

Listed below are the documents needed during the MSME registration process:-

• Aadhar Card of the applicant with correct Name
• The social category of the applicant
• Gender of the applicant
• Mention if the applicant is – physically disabled or not;
• Choose between business operations – “Service.” or “Manufacturing.”
• The NIC Code
• Total number of workers
• Total investment on machinery and equipment expenses in the business.
• Name and type of the applicant’s business;
• PAN Number and Official Address
• Date of incorporation of the business
• Details of the previous registration of the enterprise, if any
• Bank details of the business

Step by Step guide to the Registration Process:

Eazy Startups and their experts mention the detailed step-by-step guide for the registration of MSME:-

• Submit the duly filled application form for the registration of MSME to the concerned authorities.
• Arrange the documents mentioned in the registration form.
• The documents must be submitted to the Registrar of MSME for verification.
• After all of the formalities mentioned above, the registration of MSME is complete.

Frequently Asked Questions