BENEFITS OF UDYAM REGISTRATION

MSME stands for Micro, Small & Medium Enterprises. This was earlier covered under Udyog Aadhar, post 1^st July 2020 it was replaced by Udyam Aadhar. The awareness is missing and most entrepreneurs are unaware of the benefits of Udyam registration. This article explains the benefits of Udyam registration & documents required to register on the portal.

Udyam registration is a general certification given by the government to the micro, small & medium enterprises. The registration provides the MSMEs with a unique identity number and a certificate.

Benefits of Udyam Registration

• MSMEs with Udyam registration enjoy various benefits. Some of the main benefits are listed below:Banks give the collateral-free loans. 
• Easy access to the registrations, approvals, and licenses
• International trade receives special consideration
• Concession on various bills, such as electricity bills
• Credit Linked Capital Subsidy Scheme is validated by the Udyam registered organisations
• Reimbursement of ISO certification fees 
• Protection against delayed payments or supplied services
• Subsidy and fewer interest rates offered on bank loans
• Different reservation policies for production or manufacturing units
• Exemption of direct tax
• Subsidy on credit rating and NSIC performances fees
• Patent and barcode subsidies

Conclusion 

The push of ATMANIRBHAR BHARAT is helping MSMEs, Udaym registration is an essential requirement for availing all these policies, subsidies, etc. After the completion of this Udyam registration process, an e-certificate is issued. So, if your enterprise has not been registered yet with Udyam registration, get it done today itself and start enjoying its benefits.