We're living in a digital era where online registration for MSME takes no more than an hour.Such a quick and effortless process has revolutionized the whole industry of small entrepreneurs.
Now, you're a few clicks away from unlocking a range of benefits that are enough to propel your business to new heights. Get ready to learn about effortless online registration for MSMEs in detail.
What is MSME?
MSME, or simply Micro, Small, and Medium Enterprises, can be categorized as per the investment made in plant and equipment, machinery, and turnover. The sector contributes enough to employment generation, exports, and GDP. As a result, the government came up with numerous benefits, like easier access to credit, exemptions, and subsidies.
Who is eligible for MSME?
When it comes to eligibility for MSME registration, it extends to a wide range of businesses.
- Firstly, Mirco enterprises have less than ₹1 crore investment in plant and equipment or machinery and a turnover not more than ₹5 crore.
- After that, small enterprises that have less than ₹10 crore investment in plant and equipment or machinery and turnover not more than ₹50 crore.
- At last, medium enterprises that have less than ₹50 crore investment in plant and equipment or machinery and a turnover not more than ₹250 crore.
It doesn't matter if you're a service or manufacturing enterprise; you can register as an MSMEs after meeting the mentioned criteria. Apart from this, sole proprietorships, private limited companies, public companies, HUFs, and LLPs can even apply for MSME registration.
How Do I Get an MSME Certificate?
Step 1: Visit the Udyam Registration Portal
Look for the official portal for Udyam registration. The portal is mainly designed to let entrepreneurs seamlessly register their enterprises.
Step 2: Aadhaar Authentication
For MSME registration, an Aadhaar number is one of the mandatory requirements. So, you've got to enter your 12-digit Aadhaar number along with the name mentioned on your Aadhaar card. After verification, you'll receive an OTP on your registered mobile number for authentication.
Step 3: Fill in business details
When you're done with authentication, you've got to fill in your business details. This comprises the enterprise name, type of organization, plant location, office address, and PAN number. At this stage, accurate information is crucial to avoid any kind of discrepancy.
Step 4: Investment and Turnover Details
There is a need to provide details related to investment in plant and equipment or machinery and the annual turnover. Make sure your details align with the eligibility criteria for classification.
Step 5: Submit and Generate the Udyam Registration Number
After filling in your required details, don't forget to review the information. Submit your application form, and you'll get your unique Udyam registration number. The number acts like an MSME certificate, which is beneficial for future reference.
Common Challenges and Solutions
As the online registration process is quite user-friendly, there are some challenges that might arise. This includes:
1) PAN Card Errors
During submission, you must cross-check your PAN card details to avoid any errors.
2) Aadhaar Authentication Issues
Whatever mobile number is linked to your Aadhaar should be active and accessible for verification.
3) Technical Glitches
If the portal faces technical issues, give it a try in a different browser or just contact the support helpline.
Conclusion
Now, you might be clear about your eligibility and how you can get the MSME certificate. It's your time to embrace the ease of online registration and set your business up for success with the support you deserve.