MSME stands for Micro, Small and Medium Enterprise. MSME or SSI enterprises are the foundation of any economy and are an engine of economic growth, advancing impartial improvement for all. MSME registration or SSI registration online helps businesses avail multiple government subsidies and benefits.
Micro, Small and Medium sized enterprises in both the manufacturing and service sector can obtain MSME Registration or SSI/Small Scale Industry Registration. Although getting MSME online registration is not mandatory but it is always suggested to small and medium enterprises to get it done it provides a variety of benefits. Benefits such as rate of interest charged would be very less, tax subsidies, capital investment subsidies and much other support from the government sector.
We can help your business obtain MSME Registration online to avail a host of benefits. MSME online registration or SSI online registration can be done through our experts.
There are small and medium enterprises which fall under SSI/MSME category. MSME stands for Micro, Small and Medium enterprises. MSMEs act as an important sector which helps in the growth of the economy and promoting equitable development. Therefore, to support and promote MSMEs, the Government of India through various subsidies, schemes and incentives promote MSMEs. To utilize all the benefits which are offered under MSME act, the enterprise should be registered as MSME with the concerned department.
Micro-enterprises are the smallest entities, of course. The investment under Micro manufacturing enterprises should be less than Rs. 25 lakhs in plant and machinery, whereas, the investment in micro service enterprises should not exceed Rs. 10 lakhs.
In small manufacturing enterprises, the investment should be in between Rs. 25 lakh and Rs. 5 crores in plant and machinery, while in small service enterprises this investment limits between Rs. 10 lakh and Rs. 2 crores.
In Medium manufacturing enterprises, the investment should be between Rs. 5 crore and Rs. 10 crores in plant and machinery, and for small service enterprises it should be in between Rs. 2 crores and Rs. 5 crores.
Cheaper bank loans: The rate of interest on loan offered to MSMEs is 1 -1.5% lower compared to typical business loan interest.
Easy access to credit:
Government has introduced the “Mudhra Loan Scheme”, which provides loans
to MSME / SSI without
Quicker approvals from state and central government bodies: Business registered under MSME are given higher preference in terms of government license and certification.
MSME / SSI registered businesses enjoy multiple income taxes and capital gains tax subsidies from the
Charges are lower for MSME registered company for facilities such as electricity and VAT exemptions.
In fact, other business services such as patents are also cheaper for MSMEs.
Access to tenders:
There are multiple government tenders which are open only to MSMEs to promote small business
participation in the India.