Don’t you think there must be some “Better than I thought of” kind of benefits why so many people choose Private Limited Company over so many other types of registrations out there?
Udyam Registration also known as MSME Registration (MSMEs means micro, small, and medium enterprises.) is a government registration that is provided along with a recognition certificate and a unique number. This is to certify small/medium businesses or enterprises.
The Ministry of Micro, Small Medium Enterprises maintains a portal. It gives the details and steps relating to registration and makes the registration process easy for any person. It provides for free of cost and paperless registration.
To improve ease of doing business for MSMEs, the government had launched the Udyam Registration portal for paperless registration and classification of enterprises based on self-declaration. Small businesses aren’t required to upload any documents or proof for registration.
A micro, small and medium enterprise (MSME) is classified as below-
|Classification||Investment in plant and machinery or equipment||Turnover|
|Microenterprise||Not more than INR 1 Crore||Not more than INR 5 Crore|
|Small enterprise||Not more than INR 10 Crore||Not more than INR 50 Crore|
|Medium enterprise||Not more than INR 50 Crore||Not more than INR 250 Crore|
The Udyam Registration has the following benefits: