Benefits of MSME Registration
What is MSME ?
Micro, Small & Medium Enterprises Registration also known as Small Scale Industries Registration is a free registration under the MSMED which gives eligible businesses numerous benefits which is why it’s recommended to get a MSME/SSI registration.
Any business enterprise having invested in plant and machinery of an amount less than 10 Crores in case of the manufacturing sector and 5 Crores in case of services sector are eligible to get themselves registered. It is to be noted that all business entities like Partnerships, LLPs, Pvt Ltd Companies & OPCs are eligible for MSME registration.
The MSME act classifies Micro, Small & Medium Enterprises in the following manner:
Micro Enterprises
- Manufacturing Enterprise: Investment in Business is less than 25 Lakhs
- Service Enterprise: Investment in Business is less than 10 Lakhs
Small Enterprises
- Manufacturing Enterprise: Investment in Business is above 25 Lakhs but is less than 5 Crores
- Service Enterprise: Investment in Business is above 10 Lakhs but is less than 2 Crores
Medium Enterprises
- Manufacturing Enterprise: Investment in Business is above 5 Crores but is less than 10 Crores
- Service Enterprise: Investment in Business is above 2 Crores but is less than 5 Crores
Benefits of MSME registration:
The Union and state governments provide various benefits for MSME registered units. Few reasons why you shouldn’t miss to get yourselves registered under the MSME scheme are:
- Easy Bank Finance
- Better Interest Rates for Bank Finance
- Credit Guarantee Schemes
- Marketing Assistance Schemes
- Raw material Assistance Schemes
- Reimbursement for ISO 9000/14001 Certification
- Eligibility for Various Government Subsidies
- Tax Benefits
The e-registration is fairly simple and open for everyone which can be accessed here.
Click here for assisted Registration.
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