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Msme Registration / Udyog Aadhaar RegistrationIDENTIFY YOUR BUSINESS / STARTUP WITH GOVERNMENT The Ministry of Micro Small and Medium Enterprises , a branch of the Government of India, is the apex body for the formulation and administration of rules, regulations and laws relating to micro, small and medium enterprises in India.What are Micro, Small & Medium Enterprises ?Definitions of Micro, Small & Medium Enterprises In accordance with the provision of Micro, Small & Medium Enterprises Development (MSMED) Act, 2006 the Micro, Small and Medi... show more
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1IDENTIFY YOUR BUSINESS / STARTUP WITH GOVERNMENT
What are Micro, Small & Medium Enterprises ?
Definitions of Micro, Small & Medium Enterprises In accordance with the provision of Micro, Small & Medium Enterprises Development (MSMED) Act, 2006 the Micro, Small and Medium Enterprises (MSME) are classified in two Classes:
1. Manufacturing Enterprises-he enterprises engaged in the manufacture or production of goods pertaining to any industry specified in the first schedule to the industries (Development and regulation) Act, 1951) or employing plant and machinery in the process of value addition to the final product having a distinct name or character or use. The Manufacturing Enterprise are defined in terms of investment in Plant & Machinery.
2. Service Enterprises:-The enterprises engaged in providing or rendering of services and are defined in terms of investment in equipment..
The limit for investment in plant and machinery / equipment for manufacturing / service enterprises, as notified,vide S.O. 1642(E) dtd.29-09-2006 are as under
Manufacturing Sector | ||
Enterprises | Investment in plant & machinery | |
Micro Enterprises | Does not exceed twenty five lakh rupees | |
Small Enterprises | More than twenty five lakh rupees but does not exceed five crore rupees | |
Medium Enterprises | More than five crore rupees but does not exceed ten crore rupees | |
Service Sector | ||
Enterprises | Investment in equipments | |
Micro Enterprises | Does not exceed ten lakh rupees: | |
Small Enterprises | More than ten lakh rupees but does not exceed two crore rupees | |
Medium Enterprises | More than two crore rupees but does not exceed five crore rupees |
No MSME unit can take off without monetary support. This need for finance can be classified into following types: |
- Long and medium term loans |
Financial assistance in India for MSME units is available from a variety of institutions. The important ones are: (i) Commercial/Regional Rural/Co-operative Banks. |
Long and medium term loans are provided by SFCs, SIDBI and SIDCs. Banks also finance term loans. This type of financing is needed to fund purchase of land, construction of factory building/shed and for purchase of machinery and equipment. The short-term loans are required for working capital requirements, which fund the purchase of raw materials and consumables, payment of wages and other immediate manufacturing and administrative expenses. Such loans are generally available from commercial banks. The commercial banks also sanction composite loan comprising of working capital and term loan up to a loan limit of Rs.1 crore. For loans from financial institutions and commercial banks a formal application needs to be made. The details of documentation that need to be provided with the loan application are indicated below: - Documentation for Loan Application A sanction or rejection letter is issued by bank after its assessment of the application. After receiving a sanction letter, applicants need to indicate in writing their acceptance of terms and conditions laid down by FI/Banks. Subsequently, loan is disbursed according to the phased implementation of the project. In today’s environment there are other choices apart from commercial banks and Government owned financial institutions. These options include venture capital funds and non-government finance companies. Export Promotion Setting up a Micro, Small and Medium Enterprise The main steps involve in setting up a Micro, Small & Medium Enterprise are as below :-
"Setting up a new unit is a big challenge." The overriding reason for anyone to think of establishing a MSME unit can be summarised in one word - OPPORTUNITY. If one can see an opportunity to provide a product or service in a manner to generate sufficient surplus, then one way is to start up a MSME unit. This is all the more true if one believes in the maxim, "Small is Beautiful" Opportunities emerge out of ideas that one comes across by thinking about lives of friends and neighbours. This can generate ideas about products and services that can make things easier, and improve quality of life of people. Requirement Documents 1- Aadhaar Card ( mobile no.add to aadhaar mandatory ) 2- Pan Card 3- Bank Paasbook 4- Photo 5- Startup information 6- Mobile number 7- Email id OTP on Mobile(linked with Aadhaar) will be sent for confirmation. Keep your Mobile with you during registration. Benefits 1- You can use ' REGISTERED TO GOVERNMENT ' for your startup. 2- Unless your Startup turnover turns 20,00000 annually, you do not need any other license, only MSME UDAYOG AADHAR NUMBER license is enough. 3- If you have not this Licence, Bank never give you loan. Note- Government provide this Licence free, This Amount is our service fees only. |
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