• Micro
• Small
• Medium
• Under the MSMED Act, these small businesses get varying incentives such as:
  1) Priority sector lending
  2)Tax exemptionsd
  3)Capital investment
• Registering for MSME is an entire online process but seeking the help of professionals makes it more easy. Vakilsearch assists you with the online application and gets the required approval from the department.

• Introduced in 2015, the Udyog Aadhaar Act simplifies the registration process for small and medium-sized enterprises (SMEs). Serving as a replacement for MSME, Udyog Aadhaar offers a streamlined online registration. With just one page to fill, the Aadhaar Card becomes the primary legal document for registration.
• Government-backed MSME initiatives through Udyog Aadhaar include the Udyog Aadhaar Memorandum (UAM) under the MSMED Act of 2006. Designed for business ease, this one-page form requires only the 12-digit Aadhaar card number. Furthermore, businesses can submit multiple Udyog Aadhaar forms using a single Aadhaar number, all based on self-declaration.
• The ZED scheme promotes the manufacturing of export-quality goods. Meeting specified standards and exporting these goods entitles manufacturers to benefits and incentives. Conversely, non-compliant goods face rejection and return to India.
• Targeting micro, small, and medium enterprises, this initiative encourages the production of superior products at competitive costs. By leveraging specific tools and techniques, businesses can enhance resource optimization, quality, and minimize rejections. Additionally, workshops, campaigns, and seminars educate enterprises about these tools.
• Addressing business concerns, this program facilitates the resolution of business-related complaints. Entrepreneurs can monitor their complaint status and reinitiate them if unsatisfied with the resolution.

Benefits

• To avail benefits under the MSMED Act of 2006 within the banking industry, MSME registration is essential.
• By registering your enterprise with Udyog Aadhaar, you unlock numerous schemes introduced by both State and Central Governments. Furthermore, to tap into the advantages of the MSMED Act 2006 in banking, MSME registration is a prerequisite.
• Avoid requesting security deposits.
• Benefit from reduced electricity bill rates.
• Enhanced opportunities to secure government contracts.
• Access to cost-effective bank financing.
• Opportunities for reservation benefits.
• Exemption from stamp duty and registration fees.
• Eligibility for reimbursement with bar code registration.
• Industrial promotion incentives.
• Lower interest rates from leading banks.

Provisional MSME Registration

• The initial phase of MSME registration is termed as provisional, provided during the pre-establishment phase or before firm investments. During this stage, enterprises can:
• Secure essential approvals and NOCs
• Acquire clearances from governing bodies like Pollution Control Board and Labor Regulations
• Acquiring the Provisional SSI Registration Certificate (PRC) empowers small-scale units to access term loans and working capital from financial institutions and banks, particularly under priority sector lending.

Full-fledged MSME Registration

• The subsequent MSME registration phase is termed as permanent and is designated for operational industrial units. While compliance with the Act isn't obligatory, aligning with it offers significant advantages, including governmental support.

Apply For Provisional Registration

• A PRC ( Provisional Registration Certificate) is allotted to new enterprises without any field enquiry. It is purely an application-based form. Therefore, it has to applied in the precise prescribed form before operations begin in the unit. Once the application is submitted, the provisional registration will be provided without a physical inspection of the unit. The procedure is quick so that newly established firms can avail multiple benefits, quick loans and other necessary approvals.

Starting The Business

• The provisional certificate is valid for a period of five years and the enterprise has to become operational within it. If the business fails to commence work under five years, a new application must be submitted.

lying For Permanent SSI Registration

• If the entrepreneur successfully begins operations within five years, they can apply for a permanent certification. The registration is done at the Ministry of MSMEs. The permanent SSI registration is granted only if specific conditions are met and mandatory documents are submitted.
• The unit has obtained statutory and administrative clearances as required.
• The unit does not violate any regulation or restriction.
• The value of plant and machinery in the unit does not exceed the prescribed limits.
• There should be proof the enterprise is not owned, subsidiary of or controlled by another industry.
• At Vakilsearch, we are committed to helping you overcome every any obstacle that may arise in MSME registration for your enterprise.

• The eligibility for the scheme of MSME or SSI registration is dependent on the scale of business of the enterprise. Udyog Aadhaar registration is applicable for Proprietorship, Hindu Undivided Family(HUF), one-person company(OPC), Partnership Firm, public limited company, private limited company, production company, co-operative societies, limited liability partnership(LLP) or any association of persons or any other undertaking.

Micro Enterprises:

• A manufacturing enterprise should have investment of less than Rs. 25 lakhs in plant and machinery. A service enterprise should have less than Rs. 10 lakhs invested. These micro enterprises are the smallest entities.

Small Enterprises:

• For manufacturing enterprises, the investment has to be between Rs. 25 lakhs and Rs. 5 crores in plant and machinery. For service enterprises, the range is between Rs. 10 lakhs and Rs. 2 crores.

Medium Enterprises:

• If it is a manufacturing enterprise, the investment in plant and machinery has to be between Rs. 5 crore and Rs. 10 crores. If it is a service enterprise, the range is from Rs. 2 crores to Rs. 5 crores.