What are the benefits of MSME Registration

 What are the benefits of MSME Registration?

MSME ( Ministry of Micro and Small& Medium Enterprises)

To obtain MSME registration. The first thing that you should need to know is whether your business is eligible for MSME registration or not.

It also depends on what type of business you are running.

Most businesses are eligible for registration but your business should fulfill one of the following requirements.

Your business should be new or a startup.

Your business is manufacturing or services-based 

You must have different types of basic licenses for your business.

Minimum annual sales volume.

Your company should not be a joint venture with another company.

 Once you figure out your eligibility then you need to apply to the government.

You will just need to provide your business details /information like what type of 

The company you are running.

Company name and address where your company is located.

You will need to provide the details of your business like your business is in the

manufacturing sector or in the service sector as well as

trademark or patent and complete the process of application.

 Government authorities will review your application.

If your application is approved then they will ask you for some additional information regarding your business.

then the government will issue an MSME Registration Certificate.

Then further your company will identify as an MSME company.

And then you will get all the benefits of MSME.

How much time does it take to complete registration?

MSME registration can take several weeks or months.

This process is done by a government agency.

so it can take time or it will be delayed because of administration or their process of approval.

you can also consult with financial consultancy firm.

Once it is registered you will enjoy a lot of benefits that the government provides.

Benefits of MSME registration.

Increase the option of funding

As an MSME business, you will get enough options for funding either a Grant or loan from a bank or an investor.

because now you have a certificate of Msme.

Increase growth rate.

Your company will grow faster as compared to previous years.

Because with MSME.

you have access to government subsidies and financial support. 

Improve the flexibility in the export

As an MSME-certified company, you have more opportunities as compared to other companies.

Msme shows that you are innovative towards the development of the Indian economy.

What Are the Steps Associated with Registering Your Business as Msme?

Obtain official authorization from the government or regulatory organization.

Obtain a BRN, or business registration number.

With the government or a regulatory authority, register your firm.

Notify the government or regulatory authority of yearly reports and financial accounts.

The government or regulatory authority should receive the assets of your business.

Ensure that each employee has a registration card .

from the labor office in your area.

Partner with regional, global, and other business organizations.

Follow any updates to the government's or a regulatory body's regulations and instructions.

Things to Take into Account Before Launching an MSME Business in India.

Before starting MSME in India there are different things that you need to know.

Just like your business availability and location of your business.

regulatory of the state like permission of authority and tax rate .

Availability of resources below are a few things that you should know.

Location of your business 

The first thing that you should focus on is your business location.

What types of infrastructure are available in your

area like resources is sufficient or not and tax rate in your city?

Regulatory Framework

Before starting your business you should visit https://udyamregistration.gov.in/.

You just need to find out the regulatory function.

It includes rules and regulations related to the safety and scope

and the tax rate at the state level, Intellectual property rights,

and trademarks or patents. or different types of financial and banking services.

The accessibility of resources

You should need to figure out . the accessibility of resources

that are required to run your business. It can be labor, skilled labor,

or equipment and different types of financing options.

You can consult with the financial firm Agarwaltaxcon.