MSME registration stands for the micro small and medium enterprises registration. THE Government of India launched MSME act to support the MSME through various schemes, incentives and subsidies. The Ministry of Micro, Small and Medium Enterprises, a branch of government of India. Banks provides loans at lower rate of interests with MSME registration. In country’s economic growth MSME play an important role.

Benefits Of Msme/Ssi Registration

Benefits of MSME/SSI registration are as follows:

• Cheaper infrastructure: For MSME/SSI registered company charges are very lower.

• Pre-defined object or period: A partnership can be formed within a specified period or to complete a specific project or object. Once the same is completed, the partnership will automatically stand dissolved.

• Quicker approvals from state and central government bodies: Business which are registered under MSME/SSI get higher preference.

• Access to tenders: This is one of the benefits in which the various government tenders open to MSME/SSI to promote small business in India.

• MSME market development assistance for micro and small enterprises: this is another important benefit given in which the government has promised to buy products from these MSMEs.

• Cheaper bank loans: MSME/SSI registered company get lowerrate of interest on loan.

• Easy access to credit : This is the another benefits which provides loans to MSME/SSI without collaterals. PM modi provides or introduced the mudhra loan scheme which is very beneficial.

• Concession in trademark registration.

• Concession in patent registration.

Who All Are Eligible For MSME Registration?

The Below-mentioned entities are eligible for MSME Registration-

All the micro, small and medium level business entities falling in the prescribed parameter, can apply for MSME registration in India. Apart from Micro, small, and medium level enterprises-

• Limited liability partnerships (LLP),

• A private limited company (Pvt. Ltd.),

• One-person companies (OPC),

• Proprietorship firms

• Public companies can also apply for MSME registration.

Also, if the Company is in the manufacturing or the service sector can go for MSME Registration. Any entity having a valid Aadhar Number can apply for MSME Registration. As Aadhaar Number is mandatory for issuance of MSME Certificate.

Document Required

For MSME registration requires few documents, details about the individual, personal details. Aadhar Card is compulsory in the registration of MSME.
The following are the documents required for the registration process.

• Aadhar number of the applicant
• Bank account number and IFSC code
• The basic business activity of the enterprise
• NIC 2 digit code Investment in plant and machinery/equipment
• MOA and AOA
• Copies of Sales Bill and Purchase Bill
• Name, gender, PAN number, email id and mobile number of the applicant.
• PAN, location, and address of the organization.
• A number of employees and the date, you are planning to start your business.