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What is MSME COMPANY IN INDIA?
About MSME Company in India
MSME stands for Micro, Small, and Medium Enterprises, which are small and medium-sized businesses in India that operate in the manufacturing, processing, or service sectors. The MSME sector is an important contributor to the Indian economy, accounting for a significant portion of employment and GDP.
The Government of India defines MSMEs based on their investment in plant and machinery or equipment, as well as their annual turnover. As per the MSME Development Act of 2006, the criteria for classifying a business as an MSME are as follows:
Micro Enterprises: Businesses that have an investment of up to Rs. 1 crore in plant and machinery or equipment, and an annual turnover of up to Rs. 5 crore.
Small Enterprises: Businesses that have an investment of up to Rs. 10 crore in plant and machinery or equipment, and an annual turnover of up to Rs. 50 crore.
Medium Enterprises: Businesses that have an investment of up to Rs. 50 crore in plant and machinery or equipment, and an annual turnover of up to Rs. 250 crore.
The MSME sector is considered to be the backbone of the Indian economy, as it generates significant employment opportunities, promotes inclusive growth, and contributes to the overall economic development of the country. The government provides various incentives and schemes to support the growth and development of MSMEs, such as financial assistance, tax exemptions, and marketing support.
IS REGISTERING MSME COMPANY IN INDIA WORTH IT?
Benefits of registering MSME Company in India
Registering a business as an MSME (Micro, Small, and Medium Enterprise) in India can provide several benefits, including:
Access to government schemes and subsidies: MSMEs are eligible to avail various government schemes and subsidies, such as financial assistance, tax exemptions, and marketing support, which can help them grow and expand their business.
Priority lending: Banks and financial institutions in India have been directed to provide priority lending to MSMEs, which makes it easier for them to obtain loans and credit facilities.
Protection of interest: MSMEs can register for the Udyog Aadhaar Memorandum, which provides a unique identification number to the business and protects their interest while dealing with other businesses and government departments.
Reduced patent registration fees: MSMEs are eligible for reduced patent registration fees, which can help them protect their intellectual property rights at a lower cost.
Quicker resolution of disputes: MSMEs can register under the MSMED Act, which provides a mechanism for the quick resolution of disputes related to payment of dues by buyers.
Better market access: MSMEs can participate in government procurement tenders and other opportunities, which can help them access new markets and customers.
In summary, registering a business as an MSME in India can provide various benefits, including access to government schemes and subsidies, priority lending, protection of interest, reduced patent registration fees, quicker resolution of disputes, and better market access.
DIFFERENCE BETWEEN MSME AND UDYAM REGISTRATION
Is MSME and Udyam Registration are Different?
The Short Answer is Yes.
MSME registration and Udyam registration are different, but Udyam registration has replaced the old MSME registration process.
Under the new Udyam registration process, Micro, Small, and Medium Enterprises (MSMEs) can register online through the Udyam Registration Portal. The Udyam Registration Portal is a simplified and paperless registration process that is based on self-declaration, with no requirement for any documents, proof, or certificates.
Previously, MSME registration was done through the Udyog Aadhaar Memorandum (UAM), which was a paper-based registration process. Under the UAM process, MSMEs had to provide certain documents and proof to register.
The Udyam registration process has replaced the UAM process, and all existing MSMEs that were registered under the UAM process have been migrated to the Udyam registration process.
The benefits and incentives available to MSMEs remain the same under the Udyam registration process as under the old MSME registration process.
Documents required to register MSME company IN INDIA
List of Documents Required
The list of documents required to register an MSME company in India may vary depending on the type of entity and the state in which you are registering. However, some of the common documents that may be required for registration are:
- Aadhaar Card of the proprietor, partner or director
- PAN Card of the business entity
- Business address proof (rent agreement or property papers)
- Bank account details of the business entity
- Details of the business activities and nature of the business
- Certificate of incorporation (for companies)
- Memorandum of Association (for companies)
- Articles of Association (for companies)
- Partnership deed (for partnership firms)
- Identity proof and address proof of the authorized signatory (if applicable)
It is advisable to check with the your dedicated account manager to get the exact list of documents required which may vary case to case.
We Follow a Simple 4 Steps Company Registration Process!
In order to get your company registration process started, we would request you to either fill the contact form below or call us directly on +91.8920769787.
Once done, a designated account manager from our team will connect with you to understand the requirements and expectation you are having with your future company. You will be allowed to choose the desired medium to be contacted and updated about the ongiong process in regard to your company registration.
We prefer to connect with you over WhatsApp, Telegram, Email, Live Chat or our CRM directly.
Once the registration process is clear and understandable to you, you will be able to proceed with the payment in favor of DV.ASSOCIATES.
Once you are in touch with your account manager, you will be provided with a payment link to complete your payment online.
In case you want to transfer directly to our bank account of pay by DD/Cheques or Cash, you can schedule an office visit to complete the payment process.
Once your case is confirmed, you will be asked to upload the necessary documents in a secure environment.
You can either send your documents via E-Mail or WhatsApp or your designated account manager will send you a link to directly upload your documents to our self hosted and secure CRM.
The privacy of our clients is our top most priority. We do not share your information with anyone for any purpose.
For further information about documents, file formats and the process of uploading, please get in touch with your account manager.
The time taken in the registration of sole proprietorship company is between 4-10 days.
In some (exceptional) cases, some clarifications are demanded from the department of GST which may increase the time to obtain the company registration certificate.
The Final Delivery of the document is done over Email and the same can also being sent via registered post (on request).
STARTER
You're Just Starting a new Business
₨1999
₨
1199
+ GST -
MSME REGISTRATION CERTIFICATE
-
UDYAM REGISTRATION CERTIFICATE
-
DEDICATED ACCOUNT MANAGER
-
CURRENT ACCOUNT OPENING SUPPORT
-
BUSINESS LOAN APPROVAL SUPPORT
-
FREE WEBSITE WITH DOMAIN+HOSTING
-
ONLINE BRANDING FOR 3 MONTHS
STARTER
You Need Banking Services as well.
₨3999
₨
2499
+ GST -
MSME REGISTRATION CERTIFICATE
-
UDYAM REGISTRATION CERTIFICATE
-
DEDICATED ACCOUNT MANAGER
-
CURRENT ACCOUNT OPENING SUPPORT
-
BUSINESS LOAN APPROVAL SUPPORT
-
FREE WEBSITE WITH DOMAIN+HOSTING
-
ONLINE BRANDING FOR 3 MONTHS
STARTER
You Need Branding Services As Well
₨8999
₨
4999
+ GST -
MSME REGISTRATION CERTIFICATE
-
UDYAM REGISTRATION CERTIFICATE
-
DEDICATED ACCOUNT MANAGER
-
CURRENT ACCOUNT OPENING SUPPORT
-
BUSINESS LOAN APPROVAL SUPPORT
-
FREE WEBSITE WITH DOMAIN+HOSTING
-
ONLINE BRANDING FOR 3 MONTHS
WHY CHOOSE US?
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OUR DELHI OFFICE
- Address: D-248, Laxmi Nagar, Delhi-92
- Phone: +91.8920769787
- Email: [email protected]
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