MSME Registration, also known as Udyog Aadhar, is a certificate issued by the Ministry of MSME, Government of India, to micro, small, and medium enterprises under the MSME Act 2006. It allows businesses to claim government benefits and access development schemes. The primary objectives of Udyog Aadhar Registration are:
BENEFITS OF MSME REGISTRATION
Flexibility and Adaptability: MSMEs swiftly adapt to market changes and customer needs, ensuring a competitive edge.
Cost Efficiency: Lower operational costs and streamlined processes maintain profitability.
Innovation: Small-scale operations foster creativity and innovation, resulting in unique products and services.
Customer Relationships: Close customer interactions enable personalized service and loyalty.
Community Impact: MSMEs bolster local economies and create jobs, enhancing reputation and community support.
Niche Markets: They effectively serve niche markets often overlooked by larger companies.
Documents required for MSME registrations as follows :
- Applicant’s Aadhaar Number
- Applicant’s PAN Number
- PAN Card of entity
- Bank Account details of the entity
- NIC (National Industrial Classification) Codes of the business activity.
